Pre-market, optical communication stocks listed in the US experienced a collective decline, with Applied Optoelectronics tumbling nearly 12% and several other companies witnessing drops exceeding 3%. The market is rife with concerns that CPO (Co-Packaged Optics) technology could disrupt the existing industrial chain, posing a threat to the traditional pluggable optical module market. Research institutions, including SK Hynix, have published papers asserting that CPO technology is pivotal for overcoming the "bandwidth wall" in AI clusters. Despite the technical hurdles that still hinder large-scale deployment, the market fears that this innovation could reshape the industry's competitive dynamics. Furthermore, Nvidia's announcement that CPO technology has reached the stage of large-scale mass production, coupled with the release of its partner list, has dampened some funding expectations for the future trajectory of the optical module sector.