On August 31, 2026, MSX listed US stock token contracts for Palo Alto Networks (PANW), Credo Technology (CRDO), and Ciena (CIEN), adding three new directions to the platform's AI-related trading universe: cybersecurity, high-speed data interconnect, and optical networking.

This is not simply the addition of three tech stocks. The three companies cover three distinct but interconnected layers of AI infrastructure: PANW addresses enterprise security demand, CRDO focuses on high-speed data transfer inside AI clusters, and CIEN covers optical networking between data centers and over longer distances.

It also signals that AI trading themes are expanding beyond GPUs, servers, and cloud computing toward the broader peripheral infrastructure stack.

PANW: AI Expansion Brings Security Demand, Not Just Compute Demand

Palo Alto Networks is one of the world's leading cybersecurity vendors. Its business has expanded from traditional firewalls into network security, cloud security, security operations centers (SOC), and identity security.

To place PANW and related names back into the AI cybersecurity theme map, see AI Cybersecurity Stocks 2026.

To choose among compute, networking, and cybersecurity AI themes, start with the AI & US stock themes guide.

As enterprises deploy generative AI and AI agents at scale, security boundaries are shifting. AI systems may touch corporate data, code, internal applications, and identity permissions. As AI usage grows, companies also need stronger access control, data protection, and automated security monitoring.

PANW's AI investment logic therefore differs from chip makers.

It does not sell compute directly. Instead, it captures the security spending that follows broader enterprise AI adoption. For markets, PANW sits closer to the "security layer" of AI infrastructure, with performance tied to enterprise IT budgets, cloud security demand, and changes in AI security spending.

CRDO: AI Clusters Are Upgrading from 800G to 1.6T

Compared with PANW, Credo Technology has a more direct link to AI compute infrastructure.

Large AI clusters require continuous data exchange between GPUs, switches, and servers. As model size and cluster scale grow, simply adding GPUs does not guarantee overall efficiency. The speed at which servers exchange data becomes a critical bottleneck.

Data center networks are now evolving from 400G and 800G toward 1.6T.

Credo's products include active electrical cables (AEC), high-speed DSPs, and retimers designed to improve data transfer efficiency between servers and switching equipment.

If GPUs are the compute core of AI data centers, CRDO's high-speed interconnect layer solves a different core problem:

How to connect an ever-growing number of GPUs at sufficiently high bandwidth.

As hyperscale data centers continue to increase AI capital spending, high-speed interconnect is moving from a supporting component toward a critical infrastructure layer that affects AI cluster performance.

CIEN: AI Data Center Expansion Is Driving Optical Networking Demand

Ciena sits closer to the network infrastructure layer.

As AI data centers expand, compute resources are no longer confined to a single facility. Multiple data centers, campuses, and cities require faster, lower-latency connections. Data center interconnect (DCI) has therefore become an important part of AI infrastructure buildout.

One of Ciena's core focuses is high-speed optical networking and data center interconnect, covering data transport from campus networks to metro and longer-distance links.

Similar demand is showing up across the broader AI optical communications chain—from high-speed optical modules to DCI equipment—as AI cluster scale continues to raise bandwidth requirements. This trend has already appeared in recent US tech and AI supply chain performance.

CIEN therefore represents the network layer in the AI infrastructure theme: GPUs handle compute, high-speed interconnect handles intra-cluster data exchange, and optical networking handles large-scale transport between data centers.

From GPU Trading Toward the Full "AI Infrastructure Chain"

MSX's simultaneous listing of PANW, CRDO, and CIEN also reflects how AI-related trading themes are becoming more granular.

In the past, AI market attention was heavily concentrated on GPU leaders such as NVIDIA. But as AI capital spending continues to expand, beneficiaries are spreading from chips into servers, high-speed interconnect, optical networking, power, and cybersecurity.

A more complete AI infrastructure chain is taking shape:

GPU → Server → High-Speed Interconnect → Optical Network → Data Center → Power → Cybersecurity

PANW, CRDO, and CIEN map to security, high-speed interconnect, and optical networking, giving traders different angles from which to observe the AI infrastructure investment cycle.

This expansion also fits MSX's broader multi-asset product path. Beyond crypto, the platform has incorporated US stock tokens and other RWA products, allowing users to access different market segments on one venue. Differences in US stock token and multi-asset trading capabilities across platforms are becoming a new comparison dimension for traders choosing where to trade.

The significance of this launch is therefore not just three additional stock-related contracts.

More importantly, AI trading is moving from a handful of star chip names toward the full infrastructure chain.

The Three Names Have Different Catalysts

Although PANW, CRDO, and CIEN can all be grouped under AI infrastructure, their core drivers differ materially.

For PANW, markets focus on enterprise cybersecurity budgets, cloud security growth, and whether AI security demand converts into actual revenue.

For CRDO, the key variables are AI data center build speed, the 800G-to-1.6T network upgrade cycle, and adoption of high-speed connectivity products at major cloud providers.

CIEN is more influenced by data center interconnect demand, carrier network upgrades, and the regional expansion of AI data centers.

Traders should not treat the three names as identical "AI concept stocks."

They correspond to different stages of the AI infrastructure investment cycle and therefore respond differently to industry news, capital spending, and order trends.

Summary

MSX's listing of PANW, CRDO, and CIEN US stock token contracts extends the platform's AI-related trading universe into cybersecurity, high-speed interconnect, and optical networking.

Compared with earlier AI trading logic centered on GPUs and large-cap tech, these three names reflect a broader trend: as AI data center scale grows, the market is reassessing infrastructure value beyond compute.

GPUs determine compute capacity, high-speed interconnect determines whether GPUs can work together efficiently, optical networks determine whether massive data can move between data centers, and security systems protect increasingly complex AI application environments.

The next phase of AI market trading may therefore shift from "who has the strongest chips" toward:

Who can support larger-scale, faster, and more secure AI infrastructure.