Applied Optoelectronics is executing into a very strong demand backdrop, and I believe current estimates may still be too conservative given the recent order momentum. Since March 9, the company has announced an initial 1.6T order worth over $200M, followed by more than $124M of 800G orders from one hyperscale customer. The broader market is also moving in AAOI's direction, as NVIDIA and Broadcom continue to signal that optics are becoming increasingly critical to AI infrastructure.