Serenity：AI数据中心InP激光器供应缺口或超存储芯片，光通信瓶颈价值凸显

The Odaily Planet Daily reports that "White-Haired Stock Guru" Serenity has stated that Lumentum CEO Michael Hurlston has issued a warning that the supply chain for Indium Phosphide (InP) lasers for AI data centers is facing a more severe shortage than memory chips. Even relying on Lumentum's five InP wafer fabs, product shipments could still fall more than 30% below customer demand, indicating that the expansion of AI infrastructure is hitting a critical bottleneck in optical communication components.

Serenity pointed out that current supply pressure is mainly concentrated in the EML (Electro-Absorption Modulated Laser) segment, but the shortage of InP lasers could also continue to spread. The firm has long been bullish on "bottleneck investment" opportunities in the optical communication laser supply chain, focusing on companies including Applied Optoelectronics (AAOI), Sivers Semiconductors (SIVE), Lumentum (LITE), and Coherent (COHR). As AI data center capital expenditures continue to increase, infrastructure segments such as optical modules and lasers that were previously undervalued by the market are now undergoing repricing, and the InP laser supply bottleneck could become a key limiting factor in the expansion of AI computing power.