In a research report unveiled on September 7, Goldman Sachs highlighted that, propelled by the expansion of AI servers at the rack level and a surge in ASIC adoption, it has revised its Total Addressable Market (TAM) projections for the global optical module market upwards by 33%, 81%, and 115% for the years 2026 to 2028, respectively. The report forecasts that by 2027, shipments of 800G, 1.6T, and 3.2T optical modules will soar to 49 million, 71 million, and 23 million units, respectively. During the 3.2T era, silicon photonics is anticipated to penetrate 80% of the market. Concurrently, the market size for optical modules with speeds of 800G and above is expected to balloon from roughly $45 billion in 2026 to $130 billion in 2028. Goldman Sachs reaffirms its Buy recommendation for the A-shares of InnoLight Technology, setting a target price of 2645 yuan, and extends Buy ratings to other companies including YOFC, FOCI, LandMark, VPEC, and RoboTechnik.