HSBC acknowledged some positive developments, including Lotes' Quick Disconnect (QD) technology approaching mass production readiness, though it will have limited contribution this year. The company also maintains its position as a key supplier of power cables and connectors for Nvidia (NASDAQ: NVDA )'s PCIe GPU. The research firm projects that QD and power cables combined will account for only about 5% of Lotes' revenue by 2026, with the mass production timeline for other Lotes AI products remaining unclear. HSBC expects market sentiment toward Lotes to improve when Vera Rubin or the Cordelia form factor reach mass production readiness, which it anticipates will likely occur in late 2026. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.