超高功率激光：最大机会在 CPO，真正增量在 scale-up
EN (Meta Marshall): Okay. We’ve talked a lot about EML, CW lasers. You’ve been talking more about kind of the ultra-high power lasers more. Just where do you see kind of this biggest – or the biggest opportunity here developing?
ZH: 好的，我们聊了很多 EML、CW 激光器。你也更多在讲超高功率激光器。你认为这里最大的机会会在哪里形成？
EN (Michael E. Hurlston): CPO is clearly the highest volume.
ZH: CPO 显然是最大的量。
EN: I think as we start, we’re seeing big impact for us on scale out. But again, that’s a cannibalization, right?
ZH: 我觉得一开始我们会在 scale-out 上看到很大的影响，但再说一次，那是“蚕食”，对吧？
EN: I think the interesting thing – and again, depending on how it hits and how it feathers in, scale up is huge, right?
ZH: 我觉得真正有意思的是——当然还要看它如何落地、如何逐步渗透——scale-up 是巨大的，对吧？
EN: This is all of the backplane of a rack that eventually, right, through time. It’s not an instant thing. It’s not a tomorrow thing, but you’re going to see more and more optics creep into that rack, and that is a massive incremental opportunity for the entire industry.
ZH: 这涉及到机柜（rack）的整个背板（backplane）最终都会在时间推移中发生变化。这不是立刻发生的事，也不是明天就发生的事，但你会看到越来越多的光互连“爬进”机柜里，而这对整个行业来说是一个巨大的增量机会。
EN: And I think this is why, again, some of the things that NVIDIA sees as they start thinking about getting their supply chain secured on co-packaged optics and on indium phosphide.
ZH: 我认为这也是为什么——再一次——英伟达在考虑为 CPO 和磷化铟锁定供应链时，会看到这些东西。