Expert takeaways on optics:

> 350–400mW high-power CW laser 2027 shipment target revised upward from 16 million to 25 million units. Unconstrained market demand stands at roughly 60 million units, yet capacity acts as the hard constraint.

> OCS current shipments are dominated by Google and Oracle’s 300port demand.

> OCS ASP declined with product volume ramp up: early samples were $14k–$15k, while volume pricing now lands at $10k–$11k.

> Two CPO light source options are under evaluation for next-gen NVIDIA Feynman architecture: boosting laser power to ~800mW, or retaining 350–400mW power while adopting 16-wavelength DWDM.

> Substrate suppliers for high-power lasers are primarily AXT and Sumitomo, with JX Metal of Japan as the secondary option. High-power lasers currently use 4-inch wafers; 6-inch wafer adoption is scheduled for 2028.

$Coherent Corp.(COHR.US) $Lumentum(LITE.US) $NVIDIA(NVDA.US) $Alphabet(GOOGL.US) $AXT(AXTI.US)