A[The three major U.S. stock indexes collectively opened lower, with optical communications and memory chip sectors generally falling] On September 1, the three major U.S. stock indexes collectively opened lower, with the Dow Jones Index falling 0.64%, the S&P 500 Index falling 0.70%, and the Nasdaq Composite Index falling 1.28%. Optical communications and memory chip sectors generally fell. Corning and Marvell Technology fell by more than 3%, Intel and SanDisk fell by more than 2%, and Western Digital, Seagate Technology, SK Hynix, and Micron Technology fell by more than 1%. Fervo shares rose more than 7% after it was reported that the company had signed a nearly 400-megawatt geothermal power supply agreement with Google. A[CPO concept rebounded in shock, Tengjing Technology and Dekeli both rose by more than 10%] On August 31, the CPO concept rebounded in early trading, with OCS leading the rise. Tengjing Technology and Dekeli both rose by more than 10%, followed by Robotco, Lianxun Instruments, Optical Library Technology, and Chinachem Technology. On the news, the Guolian Minsheng Research Report stated that in addition to Google TPU deploying OCS switches, Nvidia is expected to use OCS in the scale-across layer, which is expected to bring new growth to the market. A[Barclays: For every US$100 earned by AI model companies, approximately US$35 to US$40 goes to the three major cloud giants] On August 30, Barclays stated in a report that for every US$100 earned by AI model companies, approximately US$35 to US$40 will flow to the three major cloud giants, namely Amazon AWS, Microsoft Azure, and Google Cloud Platform (GCP), in the form of inference computing power fees. In this part of the revenue, cloud service providers can obtain an operating profit of approximately US$10 to US$20, corresponding to an operating profit margin of approximately 35% to 45%. The report pointed out that the profit margin of the AI laboratory's paid inference business has risen significantly, from low double-digit levels in 2025 to 50% to 65% or even higher in 2026, and the adjusted gross profit margin has increased by 30 to 50 percentage points year-on-year. Barclays analysts believe that actual profit margins may even be higher than the estimates in the report, but as competition in cutting-edge models intensifies and the supply of computing power continues to increase, profit margins are expected to gradually fall back.
— All loaded —
