Applied Optoelectronics (AOI) designs and manufactures fiber-optic networking products across two core businesses: data center transceivers and cable TV (CATV) networking equipment. In data centers, AOI makes optical transceivers at speeds of 100G, 400G, and 800G that plug into switches and servers at hyperscale facilities, enabling high-bandwidth connections for AI and cloud infrastructure. AOI sells these directly to hyperscale operators like Microsoft and Amazon, as well as to equipment vendors. In CATV, AOI makes amplifiers, transceivers, and related gear for hybrid fiber-coax networks, with its flagship 1.8 GHz Quantum Bandwidth amplifier enabling cable operators to upgrade to DOCSIS 4.0. AOI also sells QuantumLink, a software platform for remote monitoring and management of deployed amplifiers, which carries higher margins than hardware. CATV represents roughly 54% of revenue and data centers roughly 43%, with small contributions from telecom and fiber-to-the-home. A key feature of AOI's model is vertical integration: AOI fabricates its own laser chips at its Sugar Land, Texas facility, giving it cost control and supply chain resilience at a time when laser shortages are constraining competitors. AOI assembles products across facilities in Texas, Taiwan, and China. AOI's customer base is highly concentrated, with a CATV distributor and Microsoft together accounting for the large majority of revenue. AOI is investing heavily in 800G and 1.6T transceiver capacity and targeting $300M+ in CATV revenue by 2026, positioning U.S.-based, highly automated manufacturing as a competitive differentiator with hyperscale customers.