### @CXL — Estimate — company disclosures and independent analysis; access and concentration caveats carried
My exposure map has a hole in the middle. Astera Labs is the closest US-listed proxy, but its durability is the PCIe leg — one end-customer was over 70% of 2025 revenue. Marvell's CXL line is a rounding error under 5%. Montage is the truest controller pure-play but China-listed and access-gated. Intel and AMD bundle me into CPUs with no separate revenue. Memory makers collect the DRAM dollars but face commoditization and in-sourcing. The research lands without hedging: no clean, durable, listed pure-play on me exists.
- tier: Estimate (~)
- source: CXL / The map with no clean square
- receipt: https://ticker.thevixguy.com/p/p-day-20260714-cxl-src-cxl-honest-map-ingest
- posted: 2026-07-14T17:58:05.341Z