The brief

Analyst view

• Revenue doubled to $1.01B in the June 2026 quarter; fiscal 2026 revenue was $3.01B.
• NVIDIA invested $2B in March 2026 and committed to multibillion-dollar laser purchases.
• Demand for its laser chips outruns supply; a new fab in North Carolina should ramp in 2028.

Technical approach

As reported

Chips

Own indium phosphide laser fabs

Silicon can't emit light well, so data-center lasers are grown on indium phosphide wafers. Lumentum runs its own InP fabs in Japan and California.

Transceivers

Fast lasers for plug-in optics

Its modulated lasers (EMLs) put data onto light at 100 to 200 gigabits per second per lane, the light source in 800G and 1.6T plug-in modules.

CPO

Steady high-power lasers for co-packaged optics

For switches with optics built into the chip package, it supplies powerful always-on lasers that sit outside the hot chip and feed light in by fiber.

Switching

Optical circuit switches

Its optical circuit switches steer light beams between fibers without turning them into electrical signals, so AI clusters can be rewired on the fly.

Show all 4