TL;DR
Eoptolink, a Chinese maker of high-speed optical transmissions, has filed for a secondary Hong Kong listing that could raise up to $5 billion, up from $3 billion disclosed in April. The angle: it’s an invisible “pick-and-shovel” winner of the AI boom, wiring its 800G/1.6T optical modules into hyperscale data centers, and customers include Google, Microsoft and Amazon. In 2025, revenue is ~$3.7 billion and net profit is up 236% to ~$1.4 billion. The piece mentions US-China interdependence (American artificial intelligence working on Chinese optics) and its shared capital risk.
While the focus is on Nvidia and AI models, companies that are quietly connecting data centers are booming. Eoptolink, a Chinese maker of high-speed optical transmissions, has filed for a Hong Kong listing in what could be as much as $5 billion. Bloomberg reports.
The plan is a secondary listing above existing Shenzhen stocks. It could raise between $4 billion and $5 billion, more than the $3 billion revealed in April, a sign that investor demand is hotter than expected.
What does Eoptolink do?
Its products are the ugly plumbing of artificial intelligence. Optical transceivers convert electrical signals into light and back, transferring data between servers and chips at high speeds.
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As AI teams scale, this plumbing becomes critical. Training and output change terabytes per second, so hyperscalers are racing to master Eoptolink’s specialty 800G and 1.6T modules.
The customer list explains the assessment. Google, Microsoft, and Amazon all use their own transmissions to bring their data centers together.
Numbers
The AI structure changed the bottom line. In 2025, Eoptolink generated revenue of about 24.8 billion yuan, about $3.7 billion, and net profit increased by 236% to $1.4 billion.
Stock followed. Its Shenzhen shares are up nearly 80% so far this year, and the listing still needs to be signed off by shareholders, China’s securities regulator and Hong Kong.
Part of a bigger rush
Eoptolink is not on the blacklist. Hong Kong has become the destination of choice for Chinese technology As US and EU barriers tighten, companies are flocking there.
AI-infrastructure names are leading. Baidu’s chip unit is targeting a $50 billion IPO in Hong Kongand Apple suppliers have raised billions rebuilding the AI hardware.
The city quietly became the hinge of the chip trade, It controls more than half of China’s chip imports. Money and equipment now flow from the same place.
Geopolitical node
There is an awkward interdependence here. America’s artificial intelligence boom, powered by American hyperscalers, runs partly on Chinese optical components, even as the two economies try to diverge.
Optics have so far escaped the export-control battles that plague advanced chips. The sale of Eoptolink to Google and Amazon is the kind of tie that no government has moved to sever, at least not yet.
A risk he shares
The downside of riding the AI capex wave is driving it down. Eoptolink’s fortunes are tied to hyperscalers, which spend about $700 billion a year on infrastructure.
These costs are based on AI paying off, which is an assumption markets are increasingly concerned. If the installation slows down, the shovel vendors get hit along with everyone else.
For now, the demand is real and the profits are huge. Eoptolink is proof that a wiring firm can do very well indeed in a gold rush.
