Correction-BUZZ-Reports say Lumentum's optical communication products for AI servers are sold out until 2029, driving its stock price higher
路透社2026/10/09 13:47Correction on point 4: Nvidia separately invested $2 billion each in Lumentum and Coherent, rather than a combined investment. October 9 – Shares of photonics product manufacturer Lumentum (LITE.O) surged 6.4% in pre-market trading to $1,114.54. According to Bloomberg, the CEO of LITE stated that as tech companies seek faster AI data center infrastructure, the company's optical device orders are fully booked through early 2029. CEO Michael Hurlston said that by 2027, LITE will be unable to fulfill about 70% of demand for certain products, and by 2028, about 30% of demand for other products will still not be met. Lumentum and its peer Coherent (COHR.N) each received a $2 billion investment from the AI leader Nvidia (NVDA.O) earlier this year. COHR shares recently rose 4.9% in pre-market trading. As of Thursday's close, Lumentum shares have gained 184.5% year-to-date.
Correction to point 4: Nvidia invested 2 billion USD each in Lumentum and Coherent, not a combined investment
October 9 - ** Photonics product manufacturer Lumentum (LITE.O) saw its pre-market share price surge by 6.4% to 1,114.54 USD
** According to Bloomberg, the CEO of LITE stated that as technology companies seek faster AI data center infrastructure, the company's optical component orders are fully sold out through early 2029
** CEO Michael Hurlston said that by 2027, LITE will not be able to meet about 70% of the demand for some products, and by 2028, around 30% of the demand for other products will still remain unmet
** Lumentum and its peer Coherent (COHR.N) earlier this year each received a 2 billion USD investment from AI leader Nvidia (NVDA.O) (link)
** COHR's pre-market share price recently increased by 4.9%
** As of Thursday's close, Lumentum's share price had gained a cumulative 184.5% this year
(To make news accessible to non-native English speakers, Reuters provides automated translation of its reporting into several other languages. As automated translation may contain errors or lack required context, Reuters does not guarantee the accuracy of translated text. The translations are provided for convenience only. Reuters accepts no liability for any damages or losses caused by the use of automated translation features.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
FCC Chairman Carr expresses satisfaction with the progress of the Disney lawsuit
FCC Chairman Carr stated that he is "satisfied" with the progress of the lawsuit against Disney (DIS.US).
PDVSA says Venezuela’s oil production will reach 1.5 million barrels per day by the end of 2027
The head of Venezuela's state oil company PDVSA stated that Venezuela's oil production will reach 1.5 million barrels per day by the end of 2027.
PDVSA official says 70% of contracts involve new oil field development
According to the head of Venezuela's national oil company PDVSA, 70% of its contracts are related to the development of new oil fields.
Germany plans to nominate Schnabel's successor, giving up the competition for the presidency of the European Central Bank.
Germany Plans to Give Up Competing for ECB President Position, Seeks to Retain Executive Board Seat According to the Financial Times, Germany intends to nominate a candidate to replace the outgoing European Central Bank Executive Board member, Isabel Schnabel. This decision effectively means Germany will withdraw from the competition for the next ECB President. Sources reveal that the German Finance Minister informed fellow Eurozone finance ministers in Luxembourg on Thursday evening that Berlin will soon propose a successor to Schnabel. Schnabel is expected to leave her post early in January 2027 to join the International Monetary Fund (IMF) as Head of the Monetary and Capital Markets Department. In addition, current ECB President Christine Lagarde is expected to step down early before her official term ends in October 2027, and Chief Economist Philip Lane will finish his tenure at the end of May 2027. According to the unwritten convention in ECB executive board appointments, the same country typically cannot hold two executive board seats simultaneously. Since the board consists of only six members, if Germany successfully nominates Schnabel’s successor, it would effectively mean a German candidate could not compete for the presidency.
Crypto prices
More
