Goldman Sachs Raises Global Optical Module TAM Forecasts, Citing 1.6T+ Shipment Growth

Goldman Sachs reported on September 7 that the expansion of AI server racks and increased ASIC penetration have led to significant upward revisions in the global optical module Total Addressable Market (TAM) for 2026–2028. By 2027, shipments for 800G, 1.6T, and 3.2T modules are projected to reach 49 million, 71 million, and 23 million units, respectively. Silicon photonics penetration is expected to hit 80% in the 3.2T era. The firm maintains buy ratings for companies including Zhongji Innolight (中际旭创), Eoptolink (新易盛), FOCI, LandMark, VPEC, and RoboTechnik