NH-Amundi Asset Management Lists New "HANARO US AI Optical Communication TOP10" ETF

Optical Communication: The Solution to AI Data Bottlenecks
Focused Investment in 10 Major Companies Including Marvell and Coherent

On July 14, NH-Amundi Asset Management announced that it will list the "HANARO US AI Optical Communication TOP10" exchange-traded fund (ETF), which focuses on investing in leading companies within the US optical communication value chain.

This ETF concentrates its investments on 10 representative companies driving the US AI optical communication industry. The value chain is divided into three main pillars: optical materials and modules, optical semiconductor chip design and processing, and network construction and advancement. Key companies from each sector have been included. As of the end of last month, major holdings included Marvell Technology Group (15.3%), Coherent (14.6%), Lumentum Holdings (14.2%), and Corning (11.4%).

The focus of AI infrastructure investment is quickly shifting from "computation" to "connection." As AI models become larger and data centers evolve to connect tens of thousands of graphics processing units (GPUs) at ultra-high speeds, the efficiency of data transmission has become a critical factor in determining system performance. Optical communication, which transmits data using light, offers increased bandwidth, long-distance connectivity, and improved power efficiency, making it an attractive alternative.

NH-Amundi Asset Management views the growth of the optical communication industry as a structural trend rather than a short-term theme. With the commercialization of co-packaged optics (CPO) technology—which integrates optical engines that convert electrical signals to light into a single package with computation chips—beginning this year, the adoption of optical communication is expanding even within data centers.

The company also highlighted that demand is spreading across the entire value chain. Since the start of this year, Nvidia has been actively securing the optical communication supply chain by making equity investments in optical communication companies and signing large-scale long-term purchase agreements. Such large-scale capital expenditures are now spreading throughout the optical communication industry, from materials and components to chip design and network equipment, rather than being concentrated in a single stage.

Kim Seungchul, Head of ETF Investment Division at NH-Amundi Asset Management, stated, "While competition in AI infrastructure has so far focused on computational performance, optical communication infrastructure that efficiently connects data is now emerging as a new pillar. The HANARO US AI Optical Communication TOP10 ETF will be a core solution that enables investment in key companies across the entire optical communication value chain, from optical materials and components to chip design, foundry, and network equipment."

This content was produced with the assistance of AI translation services.