BULLISH $LITE $AAOI $SIVE $IQE Demand for AI CW lasers is already being locked through 2030. Taiwan’s Landmark just signed a 4-year LTA (2027–2030) with a US customer for data-center CW lasers. This is not a 2027 peak story. This is multi-year supply security in a structural bottleneck. CW lasers (especially higher-power InP) sit at the heart of silicon photonics + CPO. When second-tier suppliers start locking capacity years out, it tells you the majors are already fully booked. Bullish for the entire stack: • $LITE (incumbents sold out) • $AAOI (own lasers + US capacity premium) • $SIVE (high-power CW / arrays pure play) • $IQE (InP epi foundation) The optical layer is booking the decade. The shortage is real. The duration is longer than most think. — Outlier Capital PS: I am long all the stocks mentioned here. Not advice. Many thanks @pequityresearch for the information!