原文：

原文：
$LITE CEO Michael Hurlston at the RAISE Summit warned that the supply gap for InP lasers for AI DCs:

Is facing a more severe supply chain crisis than memory.

And with Lumentum's 5 InP fabs, shipments would be more than 30%+ below customer demand.

This is especially visible with EMLs today but is already expand to CW, especially as CPO ramps.

I've always been a fan of the laser chokepoint + bottleneck from $AAOI, $SIVE, $LITE, and $COHR. And glad this thesis is starting to see validation.

This is especially visible with EMLs today but is already extending to CW, especially as CPO ramps.

I tend to be a fan of laser players with independent capacity like $SIVE, $AAOI, $LITE, and $COHR.

翻译：
$LITE CEO Michael Hurlston 在 RAISE Summit 上警告称，AI 数据中心的 InP 激光器供应面临着比内存更严重的供应链危机。
即使拥有 5 个 InP 代工厂，Lumentum 的出货量仍将比客户需求少 30%+。
这种情况在今天的 EML 中尤其明显，但已经扩展到 CW，尤其是随着 CPO 的扩张。
我一直是激光瓶颈论的粉丝，$AAOI、$SIVE、$LITE 和 $COHR 都是相关公司，我很高兴看到这个观点开始得到验证。
这种情况在今天的 EML 中尤其明显，但已经扩展到 CW，尤其是随着 CPO 的扩张。
我倾向于支持拥有独立生产能力的激光公司，如 $SIVE、$AAOI、$LITE 和 $COHR。