At a glance. This was a product and certification session, not a numbered earnings print. The 800V-adjacent item is a busbar migrating from 48/54 V toward ±400 V HVDC — the OCP rail, not NVIDIA's single-ended 800 V. The nearer-term commercial event is simpler: an ORV3 AC whip cleared UL and won a production order, with first revenue in 2026Q1.
What changed this year
Optical moved from spec-in to spec-win on telecom transport from 2025Q1. A 1.6T loopback was certified at a US switch OEM in Q4; 1.6T ACC samples were due 2026Q1. A silicon-photonics team plus Taiwan and EU patents; 2026Q1 module samples with a US AI-chip name.
OCP ORV3 AC whip got UL and a production order in 2025Q4, with first revenue guided to 2026Q1.
Memory SoCam connector cleared performance validation; automation and cleanroom were ready in 2H25.
The numbers
No revenue, margin, or EPS figures were given on this call. Treat it as a product roadmap, not a results print.
NVIDIA 800V read-through
JPC's HVDC work is busbar, not an 800 V PSU, and it is on the OCP-style rail:
- Customers moving from 48 V/54 V toward ±400 V HVDC.
- Orders pursued through system-integrator "hubs," not named CSPs.
- That still sits in the same "get copper off the 54 V bus" trade, but it is not NVIDIA's 0–800 V rack.
NVIDIA deliberately chose single-ended 800 V over ±400 V, on the grounds that ±400 V needs three-pole breakers that are not widely available. NVIDIA's own rack still accepts ±400 V sources through symmetric fusing, so OCP equipment is not stranded — but if you are screening specifically for NVIDIA 800 VDC exposure, JPC is an adjacent read, not a direct one.
Keep JPC in the hub as a ±400 V / ORV3 name. The UL AC-whip order is the 2026 near-term. The busbar is a follow-on. If you only want NVIDIA-rail names, Lite-On, Chenming, and Chang Wah are cleaner.
Trident cable into a US compute-tray supply chain is the other high-density interconnect print.
Segments that moved
No numbered mix. The three product threads on this call:
- Optical communication — telecom transport spec-wins, 1.6T loopback certification, silicon photonics samples due 2026Q1.
- Copper and power — ORV3 AC whip (UL + production order) and HVDC busbars via integrator hubs.
- Optical passives — MPO/MTP patch cords and the trident cable that solved a tight-bend-radius problem to get into a US compute tray.
Guidance
- ORV3 AC whip first revenue in 2026Q1.
- 1.6T ACC samples and silicon-photonics module samples in 2026Q1.
- No group financial outlook.
Management Q&A
Q: What is the 2026 operating outlook, and can you update UQD quick-disconnect progress?
A: UQD testing and specifications already meet OCP requirements. Reliability qualification takes longer; connectors on customer equipment so far look good, with no leaking. After the 04 size, the company will develop 06 and 08 at customers' request.
Q: If MCIO cable is replaced by a Ruby interposer, what is the impact?
A: MCIO cable will not disappear, but the count is falling in one large customer's AI compute-tray design. Other chip and system customers' designs have not shown that decline, and JPC will not put all resources on one account, so the overall impact is not expected to be large.
Q: How does the strategic alliance with Chenbro work?
A: Chenbro focuses on L10 and above system assembly. JPC supplies OCP busbar, busbar clip and high-current cable into Chenbro's chassis, which is then assembled and shipped to the end customer.
Q: What share of this year's and next year's revenue is CPO, and what is the mix by main product?
A: CPO is still at spec-in; related applications should grow in 2026, and the growth versus this year is described as fast. Management declined to comment on revenue mix for any single product.
Q: Progress of the US line and Southeast Asian capacity?
A: The US Bay Area plant stays a small, quick-turn site; any larger plan waits on a clear order from a major customer. Northern Vietnam remains the first capacity add, and there is still enough space; optical passive parts are due to start in Thailand in Q2 2026 to address tariffs.
Disclaimer
English notes on JPC Connectivity's investor conference / product session of 31 December 2025. No revenue or EPS figures were given. The ±400 V busbar path is as stated by management and is not NVIDIA's single-ended 800 V rail. For reference only; not investment advice.