$MXL just confirmed the AI optics ramp is real. Revenue of $168.8M against $164.7M expected, up 55% year over year. EPS of $0.35 versus $0.33, up from 2 cents a year ago. Operating margin exploded to 22.3% from 7.2%. They even swung to GAAP profitability after a 52 cent loss just last quarter. Infrastructure, the segment we own this for, grew 145% on optical AI data center adoption. But the guide is the shocker. Q3 revenue of $210-220M. That's 27% sequential growth at the midpoint and nearly double the year ago quarter. Margins holding through the entire ramp. A year ago this was a $100M per quarter broadband company. It's guiding to $215M next quarter on AI optics. Why it matters: Keystone is ramping for 800G optical at hyperscale AI data centers, the exact segment where Broadcom an
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