Our CIO, @YuriKhodjam, outlines the investment case for the Tema Photonics & Optical ETF $LAZR, which offers pure-play exposure to companies at the leading edge of a critical pathway in the AI infrastructure buildout.

Research|Optics: CIOE Takeaway - 2026 Orders Extend into 2027, Supply Determines Who Delivers First The clearest takeaway from this year’s CIOE is that 1.6T orders and production schedules now extend into 2027. Demand is growing rapidly, and the availability of DSPs, lasers and PCBs will determine the pace of deliveries and vendor market share. Zhongji InnoLight (InnoLight), Eoptolink, Coherent and Lumentum have all entered volume production of 1.6T products, supported by the strongest customer bases and most secure supply chains. For second-tier vendors such as Cambridge Industries Group (CIG), Linktel and Source Photonics, growth will come first from higher 800G shipments, followed by the introduction of 1.6T products. Adoption of near-packaged optics (NPO) is broadening, creating additional demand for high-power light sources, fiber arrays and connectors. Demand is also taking shape for 2028: Rubin Ultra, TPU v9 and Chinese supernodes already incorporate optical interconnects into their designs. Held in Shenzhen on 9–11 September, the show recorded nearly 190,000 visits over three days, up 32% year on year and a record for CIOE. The halls were packed, visitors queued to see samples at popular booths, and many exhibitors posted recruitment notices. One exhibitor said that, having booked late, it could secure only a small booth. Detailed Report

Our CIO and Chief U.S. Equity Strategist Mike Wilson breaks down how the market is transitioning to a mid-cycle environment, with leadership shifting toward higher-quality, asset-light companies with durable earnings. Tune into the latest Thoughts on the Market:

SharpLink CIO @sheffieldreport explains corporate digital asset treasuries (DATs): DATs put crypto on a public balance sheet. @Sharplink was early to ETH, raising $425M then $3B, and now holds about 890,000 ETH, deployed for yield.

Our CIO and Chief U.S. Equity Strategist Mike Wilson explains why investors should favor quality as the market moves from early-cycle momentum to more disciplined, mid-cycle leadership. Tune into the latest Thoughts on the Market.

Our CIO and Chief U.S. Equity Strategist Mike Wilson explains why he thinks the bull market has entered a new phase, with more focus on quality. Tune into the latest Thoughts on the Market.

Our CIO and Chief U.S. Equity Strategist Mike Wilson explains why market leadership is rotating beyond semiconductors and where investors may find opportunities despite near-term volatility. Tune into the latest Thoughts on the Market.

The CIO mindset - CIOs are busy nowadays. CEOs want progress on AI, their C-Suite peers want AI transformation resources, and everyone wants to move fast. On the other hand the AI landscape is far from static, coding is a real use case, but costs are rising and headcount savings are being overwhelmed by increased demand. Other POCs on AI are still being figured out and ROI isn't fully realized. CIOs need to determine long term architectures, choose partners and technologies which will likely change a few times before we stabilize. On the day job, (non AI side), CIOs need to decide which SaaS contracts to commit to where to retain flexibility, how to deliver the promises already made with projects mid stream, and what to redirect to pay for the AI landslide. They need to find budget dollars to work on all of the following: Priorities 1. Figure out AI, evaluate, commit to clear ROI and keep your powder dry. 2. Deal with Mythos and prepare for a new world of Cyber, rethink point solves vs platforms. 3. Create capacity in budget for increasing AI usage. 4. Evaluate the vendor landscape and evaluate how the vendors will evolve and determine strategic redirection where needed. 5. Prioritize hardware purchases where compute and memory prices are going to be on the rise for the foreseeable future. This is normal in a technology super cycle. The CIOs will have to power through these dynamics. We are definitely seeing this in the equity markets with everyone trying to pick winners and losers. I think it's too early to draw long term conclusions. Customers are still adjusting to the economic realities of AI and reallocating spend, this reset is being reflected in the equity markets.