Morgan Stanley: Global AI Optical Module PCB Market CAGR Could Reach 83%, Far Exceeding the 60% Growth Rate of Optical Modules in the Same Period

Odaily Planet Daily News Morgan Stanley's latest report predicts that as the scale of AI clusters continues to expand, the demand for data transmission between GPUs is growing exponentially, which will drive a rapid surge in the demand for optical modules. As optical modules upgrade from 400G to 800G, 1.6T, and even 3.2T, the materials, layer count, and manufacturing processes of their internal PCBs will undergo a comprehensive upgrade, thereby significantly increasing the value of a single PCB.

Morgan Stanley estimates that from 2025 to 2028, the global AI optical module PCB market size will grow from $620 million to $3.77 billion, an increase of more than five times in three years, with a compound annual growth rate as high as 83%, far exceeding the 60% growth rate of optical modules in the same period. The report points out that the total shipments of AI optical modules from 2026 to 2028 are expected to be 73 million units, 141 million units, and 158 million units, respectively. Among them, the three-year compound annual growth rate of 1.6T optical module shipments is about 60%, and the growth rate of the circuit board market is as high as 83%. (Jin Shi)