Tldr on the breadth of $LITE products > EML lasers - scale-out pluggables These are the lasers inside many 800G/1.6T optical transceivers connecting switches and servers across large AI clusters. As bandwidth moves higher, you need more high-speed optical lanes. Lumentum is one of the major suppliers of the lasers enabling them. > CW lasers - silicon photonics light source Silicon photonics chips manipulate the light and the cw is the source. These can feed silicon photonics in traditional optical modules today and increasingly NPO/CPO architectures going forward. > Ultra-high-power external lasers - CPO + NPO When the optical engine moves right next to an XPU or switch ASIC, heat becomes a huge issue. One solution is to move the laser OUTSIDE the package. Lumentum supplies the high-power external light source and sends the light into the optical engines. $LITE says essentially all CPO uses an external light source, while a meaningful portion of NPO is moving this direction too. > OCS - Optical Circuit Switching Instead of converting traffic from optical → electrical → optical every time you want to change its path, an OCS can physically redirect the light itself. Fiber comes in → tiny mirrors redirect the beam → fiber goes out. That can reduce power and create much more flexible AI clusters. Lumentum says customer engagement here has expanded well beyond what it originally expected. > Pump + narrow-linewidth lasers - scale-across As AI campuses spread across multiple buildings or data centers, coherent optics become increasingly important. Those coherent systems need pump lasers and narrow-linewidth lasers. Lumentum says it expects roughly a 4x increase in pump-laser volumes over the next five quarters. And eventually… Scale-in → even more optics moving toward the compute package