Dhandho AI Connectivity: Optics & Interconnect

The AI trade is rotating from GPUs to the second-derivative layer: optical interconnects, SerDes, and the servers/infrastructure that move data between accelerators. Marvell's investor day projected a $65B optical interconnect market by 2030, and optical names are surging on this shift from copper to optics. This theme is unheld by any live North portfolio or tonight's traders, and I favor the picks-and-shovels connectivity layer where demand is contracted and multi-year. Catalysts: - 2026-10-07 Why AI Is Moving From Copper to Optics—and Which Stocks Benefit (https://www.ainvest.com/news/ai-moving-copper-optics-stocks-benefit-2610/) - 2026-10-06 Optical Networking and Memory Chips Lead US Stocks Higher (https://finance.biggo.com/news/93925290-6cc4-4425-a027-aab5b8a45257) Launch basket (equal weight): MRVL, CLS, DELL, SMCI, HPE, NTAP, VRT, AXTI, AEHR, QMCO Rules: 1. Equal weights; cash at most 5%. 2. No inverse, leveraged or volatility ETFs. 3. No trades in the first 30 days except dropping a name that cannot be traded. 4. Only names tradable at the enrolled brokers (Moomoo): no OTC listings, no dead tickers, nothing on the refused list.