Huawei

Lumentum Holdings: The Optical Engine Behind the AI Data-Center Revolution
Lumentum Holdings

Lumentum Holdings: The Optical Engine Behind the AI Data-Center Revolution

Summary * Record 1Q26: $533.8m revenue (+58% YoY) with next-quarter guide $630–$670m; cloud/AI now >60% of mix, beating the $600m/quarter goal early. * Growth is structural as hyperscalers shift from copper scale-up to optical scale-out, accelerating 800G/1.6T transceiver demand. * LITE’s leadership in 200G-per-lane EMLs and move up the stack (cloud modules, OCS, CPO) deepens hyperscaler attach and raises pricing power. * Vertical integration (CloudLight) and richer mix target mid-30s → low
Notes: Huawei’s 910C and CM384: A Strategic Shock to the NVIDIA Thesis (Pt.1)
Huawei
14 min read

Notes: Huawei’s 910C and CM384: A Strategic Shock to the NVIDIA Thesis (Pt.1)

Summary * Huawei’s 910C and CM384 achieve H100-class and Blackwell-scale performance using older nodes, challenging the idea that leading-edge silicon is NVIDIA’s unassailable moat. * System-level innovations and full-stack integration enable Huawei to deliver better real-world efficiency and scalability in key AI workloads. * While uninvestable, Huawei’s rise threatens NVIDIA’
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