Vertical-cavity surface-emitting lasers (VCSELs) has become the most important light source in the booming market of short-reach (< 300 meters) optical interconnect (OI). The next generation OI has been targeted at 56 Gbit/sec data rate per channel (CEI-56G) with the total data rate up to 400 Gbit/sec. However, the serious modal dispersion of multi-mode fiber (MMF), limited speed of VCSEL, and its high resistance (> 150 Ω) seriously limits the >50 Gbit/sec linking distance (< 10 m) by using only on-off keying (OOK) modulation scheme without any signal processing techniques. In contrast to OOK, 4-PAM modulation format is attractive for >50 Gbit/sec transmission due to that it can save one-half of the required bandwidth. Nevertheless, a 4.7 dB optical power penalty and the linearity of transmitter would become issues in the 4-PAM linking performance. Besides, in the modern OI system, the optics transreceiver module must be packaged as close as possible with the integrated circuits (ICs). The heat generated from ICs will become an issue in speed of VSCEL. Here, we review our recent work about 850 nm VCSEL, which has unique Zn-diffusion/oxide-relief apertures and special pdoping active layer with strong wavelength detuning to further enhance its modulation speed and high-temperature (85°C) performances. Single-mode (SM) devices with high-speed (∼26 GHz), reasonable resistance (∼70 Q) and moderate output power (∼1.5 mW) can be achieved. Error-free 54 Gbit/sec OOK transmission through 1km MMF has been realized by using such SM device with signal processing techniques. Besides, the volterra nonlinear equalizer has been applied in our 4-PAM 64 Gbit/sec transmission through 2-km OM4 MMF, which significantly enhance the linearity of device and outperforms fed forward equalization (FFE) technique. Record high bit-rate distance product of 128 Gbps·km is confirmed for optical-interconnect applications.