Fabrinet Ties Growth to Multiple Tech Giants as AI Demand Ramps Up

Cisco Systems, Nvidia Corp, Amazon.com, and Nokia Corp have become major customers for Fabrinet, an optical manufacturing specialist that's deeply embedded in the AI infrastructure buildout. According to Fabrinet's chief financial officer Csaba Sverha, these four companies account for more than 10% of annual revenue each.

Cisco is the biggest customer, representing 20% of total revenue, followed by Nvidia at 16%, Nokia at 11%, and Amazon at 11%. This diversification of customers suggests that Fabrinet's AI exposure is becoming broader.

The company's CEO Seamus Grady expressed confidence in demand, stating 'Demand from these markets continues to increase, which makes us optimistic about the long-term durability of these trends.' He also mentioned 'no end in sight' to demand from customers. Management attributed this confidence to multiple growth engines, including data center interconnect (DCI), high-performance computing (HPC), and transceivers.

Analysts largely focused on next-generation optical technologies, hyperscaler demand, and future capacity, reinforcing that Wall Street views Fabrinet as a key manufacturing partner for AI networking rather than just a contract manufacturer. The company's position in advanced optical manufacturing is becoming more diversified as hyperscalers and networking vendors expand AI infrastructure.