Jun. 2 at 3:42 AM
$JPM’s channel checks on MediaTek today are interesting.
The key takeaway:
$GOOGL appears to be scaling TPU deployment significantly higher.
Last week, Aletheia and Susquehanna also noted MTK gaining share in the TPU supply chain versus
$AVGO.
But the cleaner trade may be
$SMTC.
They supply analog optoelectronic components (laser drivers, TIAs) used in high-speed optical modules connecting TPU clusters.
The key ratio:
~1 TPU requires ~2.5–3 optical modules.
Which means TPU growth directly drives optical interconnect demand.
The real variable is the total TPU cluster scale.
