May. 28 at 8:50 PM
Watching the CPO mass production theme and the real choke point is clearly testing.
TrendForce points out the current flow is still manual and not standardized, which is quietly capping throughput across the chain.
This is where the picks and shovels setup gets interesting:
$FORM in probe cards and systems,
$ONTO and CAMT in inspection and metrology,
$KEYS and VIAV in photonic testing, and AEHR in burn in plus system level test.
You also have
$TER, Advantest, and Chroma ATE in the same orbit.
With
$TSM COUPE targeting volume production around 2026, testing becomes one of the key unlocks for scaling CPO alongside lasers, FAU, substrates, and advanced packaging.
I am positioned in Aehr and watching this closely as the cycle develops.
