Vertical-cavity surface-emitting lasers (VCSELs) have important applications in the short-distance optical interconnection attributed to their advantages, such as low cost, low threshold current, high modulation bandwidth and low power consumption. With the development of big-data and supercomputer technology, the performance demand of short-distance optical interconnection is increasing quickly, which also proposes a challenge for high-speed 850 nm VCSEL. In this paper, the latest development of high-speed 850 nm VCSEL technology was reviewed from the aspects of bandwidth-limited factors and new modulation methods, and the growing trend of this technology is prospected and summarized.