「Stock God」 Serenity's Recent Views: Neocloud Track Most Confidence in NBIS, Focus on Europe's Top Three Silicon Photonics Leaders

BlockBeats News, June 4th, "New Stock God" Serenity's recent public views and investment target are as follows:

NBIS (Nebius)

Serenity defines Nebius as the "top choice in the Neocloud track" and believes it is the "purest AI infrastructure asymmetric opportunity." By June 2026, NBIS's stock price has risen from about $84 last year to $260, with a market capitalization of $660 billion. Serenity still sees a long-term breakout above $1 trillion. NBIS is ranked first in the Neocloud track, surpassing competitors such as IREN and CRWV. Its core advantages lie in avoiding several pain points faced by competitors—lack of full-stack execution certainty, no high-interest debt, and scale revenue certainty from large-scale customer contracts. In addition, NBIS is also part of the NVIDIA investment portfolio and Leopold Aschenbrenner's fund Q1 holdings, reflecting top-tier capital consensus.

Google AI Capital Expenditure Upstream Ecosystem (LITE / AVGO / MediaTek / TSM / MU)

Regarding Google's parent company Alphabet's announcement of an $800 billion AI capital expenditure financing (including a $400 billion ATM issuance, $300 billion in stocks, and $100 billion investment from Berkshire Hathaway), Serenity believes this will benefit the upstream ecosystem supply chain, including companies such as Lumentum (LITE), Broadcom (AVGO), MediaTek, TSMC, Micron (MU), and others. However, he also notes that for Google shareholders, such a large-scale capital expenditure is not entirely supported by free cash flow, and the impact may not necessarily be positive. This assessment continues the narrative logic of its emphasis on the AI infrastructure "key bottleneck" segment.

AAOI

Serenity identifies AAOI as its top pick in the U.S. photonics sector, suggesting that if investors are looking for the "next Micron," AAOI might be the relevant target. He predicts that the revenue acceleration inflection point for photonics-related companies will occur in the first half of 2027, transitioning into the second half of the year, with the market typically pricing in future growth about 8 months in advance. Currently (second half of 2026) is still slightly early in the industry's capacity construction phase. The key is to wait for the timing and endure the interim volatility. AAOI has recently attracted market attention for the potential of signing a long-term agreement with NVIDIA or AMD, which would be a key signal to validate its "Micron" potential.

SIVE (Sivers Semiconductors)

SIVE, a CPO leader heavily backed by Serenity, saw several key bullish developments in June 2026. Firstly, SIVE announced a strategic partnership with GlobalFoundries (GF), with its laser array to be integrated into GF's silicon photonics platform and SCALE Photonics Engine reference designs, making Sivers Laser the default light source for GF's silicon photonics ecosystem, aiming at the $250 billion pluggable optics market by 2030. This collaboration was hailed by Serenity as the "most decisive event in history." Additionally, Ayar Labs officially joined the NVIDIA NVLink Fusion ecosystem, and SIVE, as Ayar Labs' public laser partner, providing high-precision InP laser arrays, thereby entering NVIDIA's optical infrastructure supply chain. Serenity noted that SIVE's lasers have become the de facto industry standard lasers for CPOs, pluggable modules, and silicon photonics, directly benefiting AI chip giants using related foundries (NVDA, AVGO, AMD, MRVL, etc.).

XFAB

Serenity issued a bullish call on XFAB, citing a "severe mismatch between valuation and assets." XFAB, with a market cap of around $1.7 billion, compared to POET's $2.4 billion market cap, possesses core assets far exceeding its market valuation: it is one of the few global SiC/GaN/MEMS/silicon photonics foundries to receive funding from both the EU CHIPS Act and the US CHIPS Act, with the current valuation even below reset book value. Serenity highlighted its differentiation advantages: NVIDIA and Nokia are evaluating its pre-commercial silicon photonics foundry line, with production expected to ramp up between 2027 and 2028; the company leads the expansion of the European photonics supply chain, with deep collaborations with core institutions such as IMEC, CEA-Leti, Ligentec, Smart Photonics; and customers include Nanosemi, Power Integrations, and Lite-On. Serenity specifically quoted the U.S. Department of Commerce's official statement, "XFAB is the only high-capacity silicon carbide foundry within U.S. borders," believing it possesses rare strategic value amid trade barriers and supply chain localization trends.

European Silicon Photonics Big Three (Soitec / Siltronic / XFAB)

Regarding the EU Chips Act 2.0 proposal, Serenity's analysis interpreted the proposal as formally incorporating photonics into the EU semiconductor strategic framework, constituting a thematic bullish signal for the photonics industry. The policy focuses on CPO and interconnect technologies in AI data centers, silicon photonics' application in high-bandwidth data center interconnects, and manufacturing technologies such as co-packaging and heterogeneous integration of photonic integrated circuits, directly benefiting SIVE and XFAB. Serenity specifically mentioned the three major players in the European silicon photonics value chain: Soitec and Siltronic as core European companies in the SOI wafer field were directly named in the policy impact analysis, while XFAB was listed as part of the current funding framework, further confirming its leadership position in the European silicon photonics value chain. They predicted that as the policy framework is implemented, relevant targets may continue to release specific information in the next 3 to 15 months.