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Fabrinet

Contract manufacturer of optical transceivers

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Where it fits in an AI server rack

Fabrinet manufactures optical communications products for OEM customers, including transceivers and active optical cables for data centers and computing clusters. NVIDIA accounted for 16.3% of FY2026 revenue of $4.64 billion and Amazon for 10.5%; data-center revenue was $2.23 billion (47.9%). NVIDIA names Fabrinet among pluggable-transceiver leaders and in its silicon photonics ecosystem (Mar 18, 2025).

What the evidence establishes

AI-rack evidence

Disclosed: Fabrinet’s FY2026 10-K names NVIDIA (16.3%) and Amazon (10.5%) as 10% customers; NVIDIA’s release names Fabrinet among pluggable-transceiver leaders.

An explicit AI-server or AI-rack product, design-in, supply role, program, reference design or partnership, such as a part named for rack-scale AI systems or a product sold for AI data centers. For a rack builder, it means the company’s own AI servers or racks. This does not establish revenue, market share, volumes or future sourcing.

Component roleContract manufacturer of optical transceivers
EvidenceDisclosed: Fabrinet’s FY2026 10-K names NVIDIA (16.3%) and Amazon (10.5%) as 10% customers; NVIDIA’s release names Fabrinet among pluggable-transceiver leaders.
How we knowDisclosed The company’s own filing, release, annual report, product page or investor record describes the AI-server or AI-rack role. Where customers are unnamed, the listing says so.
Primary sourceFabrinet — supporting disclosure
Company or official disclosure; vendor claims are attributed to their source.
Checked. This is the research review date, not the source publication or quote time.

Keep in perspective

Fabrinet builds to customers’ designs and does not say which NVIDIA products it makes; NVIDIA’s share of revenue fell from 27.6% in FY2025. Cisco (19.9%) and Nokia (10.7%) were also 10% customers.

Diversified business exposure. This describes the breadth or role of the business; it is not an investment rating. An AI-server product, design-in or partnership does not by itself establish material AI-rack revenue, market share, or future returns.

Connections to the assembly

These links explain the technology relationship. The model is illustrative and does not represent an actual manufacturer’s bill of materials.

Optical transceivers

Pluggable 800G and 1.6T modules that convert electrical signals to light and back for links that leave the rack.

Scope of the company links: 800G and 1.6T pluggable modules (OSFP) for the rack’s scale-out links. NVIDIA names Coherent, Eoptolink, Fabrinet and Innolight as pluggable-transceiver leaders (Mar 18, 2025). Innolight, Eoptolink and Accelink list 1.6T OSFP modules in their 2025 annual reports, Coherent and Lumentum describe 800G/1.6T modules in their 10-Ks, and AOI has a first 1.6T volume order of over $200 million from an unnamed hyperscaler. Fabrinet is a contract manufacturer (NVIDIA was 16.3% of FY2026 revenue), not a module brand. NVIDIA sells LinkX-branded optical transceivers without naming their makers. TFC supplies optical engines and passive parts that go inside modules, and Credo sells ZeroFlap optical transceivers. None of these sources gives volumes or says which system a given module ships into. Cisco ships 1.6T OSFP and 800G linear-drive optics with its Silicon One systems, and Luxshare lists 800G and 1.6T optical modules in small-batch supply.

Related research

Companies with overlapping sector exposure. Their products and evidence may differ; this is not a list of equivalent investments.

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