The selloff was linked to a report on delayed AI data center technology rollouts, though some market commentators said the note was outdated and overstated longer-term risks.
U.S.-listed optical module stocks sold off sharply on June 10 after a SemiAnalysis note said NVIDIA-native 800VDC architecture shipments and CPO (co-packaged optics) mass-production deliveries for AI data centers had both been significantly delayed. Bitget market data cited by BlockBeats showed MRVL down 13.3%, AAOI down 16.4%, NOK down 8.5%, LITE down 11.77% and COHR down 15.2%. BlockBeats said the report was viewed as one reason for the broader pullback in U.S. AI stocks. Some commentators, including Serenity, KawzInvests and Herman Jin, pushed back on the note, calling it outdated and alarmist while arguing that photonics demand and CPO adoption remain longer-term growth drivers. The episode highlights investor sensitivity to AI infrastructure timelines, where delays in power architecture and optical interconnect deployment can quickly affect suppliers exposed to data center buildouts.