$287.48
184.7% vs S&P 12m
Business overview
Connectivity silicon for AI systems — PCIe/CXL retimers, switches, and fabric controllers used inside GPU servers and racks.
Pure-play on the rack-scale interconnect intensification thesis. Every GB200 NVL72-style system multiplies retimer/switch content.
Products
- Aries retimers
- Taurus DSP
- Leo CXL switch
Customers (2)
- NVIDIA system partners
- Hyperscalers
Composite score
Higher = stronger overall research case
Fundamental78
Technical71
Valuation42
AI relevance80
Risk-adjusted (higher = safer)33
Segment-relative fundamental percentile: 80
Synthetic 1Y price action
Deterministic price series; 50d (yellow) and 200d (orange) MAs shown
3M RS: 108.5%6M RS: 92.0%12M RS: 184.7%Vol30d: 100%DD52w: 0.0%
Financial summary
Curated, illustrative
Revenue
$1.00B
Growth (YoY)
93.4%
Gross margin
76.0%
Operating margin
20.1%
FCF
$240.00M
Capex
$143.40M
Net cash / (debt)
$1.14B
ROIC
10.1%
Customer conc.
Medium
Valuation
Market cap
$49.28B
Enterprise value
$48.13B
P/E (TTM)
195.6x
Forward P/E
68.3x
EV / Sales
48.1x
EV / EBITDA
206.2x
P / FCF
205.3x
PEG
—
Rule of 40
—
Risks
Severity 1 (low) to 5 (severe)
- 5Extreme valuation
- 4NVIDIA-tied design win risk
Score components
What drove the composite
Growth100
Profitability65
Cash generation81
Balance sheet97
Moat / AI relevance88
Capital intensity (higher = lighter)49
Customer diversification60
Valuation discipline (dilution)65
Trend (MA50/MA200)65
Momentum (3/6/12m)80
Relative strength100
Realized vol (higher = lower vol)21
Segment peers
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