YOFC (06869) surged over 20% in early trading, reaching an intraday high of HK$44.86, setting a new historical high. As of press time, the stock was up 19.07% at HK$43.96, with trading volume reaching HK$1.222 billion.

On the news front, NVIDIA recently announced the launch of NVIDIA® Spectrum-XGS Ethernet. This scale-across technology can combine multiple distributed data centers into a gigawatt-scale AI superfactory. With the surge in AI demand, data center power and capacity within single facilities have reached their limits. To achieve data center expansion, it's necessary to break through building constraints, while existing commercial Ethernet network infrastructure cannot meet demands due to high latency, high jitter, and unpredictable performance.

Securities analysts point out that scale-across technology is expected to become the "third pillar" of AI computing following scale-up and scale-out technologies, further driving the development of AI computing interconnect industries. They emphasize the need to pay close attention to industrial opportunities in optical interconnect and related sectors.

Securities research previously indicated that hollow-core optical fiber uses air as the transmission medium, possessing two main characteristics of lower latency and lower loss, making it the primary variety for future AI data center interconnections. China Mobile's first commercial hollow-core optical fiber deployment in July 2025 may signal an acceleration in commercialization processes. YOFC was the sole winning bidder with an actual bid price of approximately 36,000 yuan per core kilometer.

The research highlights focus on YOFC, which leads in hollow-core technology production capacity and has already won bids in related projects.