Lumentum: Optical components sold out through 2029; capacity is the constraint
Lumentum$LITEB CEO said on Bloomberg on October 9 that the company’s AI optical component capacity is already sold out through early 2029. Six months ago, he was saying 2028.
The shortfall isn’t on the demand side; it’s on the production-line side. For some products, the company still can’t meet about 70% of demand in 2027; for others, the shortfall is around 30% in 2028. Those figures don’t refer to the same thing: they involve different products and different time periods, not one and the same shortfall narrowing.
Nvidia invested $2 billion in March and also made multiyear purchase commitments, but that hasn’t closed the gap. Coherent $COHRB and AAOI$AAOIB , in the same supply chain, are among the companies with production capacity to spare. Optical components are the link that connects GPUs. Even the fastest chips are no use if the data can’t be moved.
Going forward, the thing to watch is production capacity. The new InP plant won’t reach mass production until mid-2028, and until then the shortfall will only become more acute. In this supply chain, I’d rather look at suppliers that already have capacity in place than those simply riding the AI theme.
The above is a summary of publicly available information and does not constitute investment advice.
#光模块 #AI基础设施 #美股超话
Original article: https://www.bloomberg.com/news/articles/2026-10-09/nvidia-backed-lumentum-sees-opto-parts-capacity-sold-out-to-2029
Lumentum$LITEB CEO said on Bloomberg on October 9 that the company’s AI optical component capacity is already sold out through early 2029. Six months ago, he was saying 2028.
The shortfall isn’t on the demand side; it’s on the production-line side. For some products, the company still can’t meet about 70% of demand in 2027; for others, the shortfall is around 30% in 2028. Those figures don’t refer to the same thing: they involve different products and different time periods, not one and the same shortfall narrowing.
Nvidia invested $2 billion in March and also made multiyear purchase commitments, but that hasn’t closed the gap. Coherent $COHRB and AAOI$AAOIB , in the same supply chain, are among the companies with production capacity to spare. Optical components are the link that connects GPUs. Even the fastest chips are no use if the data can’t be moved.
Going forward, the thing to watch is production capacity. The new InP plant won’t reach mass production until mid-2028, and until then the shortfall will only become more acute. In this supply chain, I’d rather look at suppliers that already have capacity in place than those simply riding the AI theme.
The above is a summary of publicly available information and does not constitute investment advice.
#光模块 #AI基础设施 #美股超话
Original article: https://www.bloomberg.com/news/articles/2026-10-09/nvidia-backed-lumentum-sees-opto-parts-capacity-sold-out-to-2029