LITE CEO predicts there's still a 10,000x growth potential in shipments: 1. Data centers are moving from the copper era → to the era of light In the past, server rooms relied entirely on copper wires. Now, it's all about fiber optics—faster, farther, and more energy-efficient. This isn't just a trend; it's a law of physics. 2. Demand from tech giants is in the tens of millions to billions The optical industry used to be satisfied selling a few thousand units per quarter. Now, AMZN, MSFT, GOOGL, and META alone are demanding millions, even tens of millions of units. The U.S. barely supplies optical modules to Chinese data centers, but Chinese companies still have significant business in the U.S. Recently, the U.S. government has been drafting a ban to prohibit importing Chinese optical modules, which could lead to major shortages in the future. 3. The ceiling for optics is higher than you think The replacement demand for switching from copper to fiber in server rooms is still ongoing, and this alone will sustain the industry for years. On top of that, space tech like SPCX also requires lasers, and in the future, they'll even be used in outer space. 4. The real bottleneck The lasers rely on indium phosphide, and there are very few factories capable of producing this material. Most optical companies have to build their own facilities—capital-intensive, high technical barriers, and not something that can be scaled up overnight. It takes years to get production up and running. Globally, only LITE, COHR, AVGO, MTSI, and AAOI can stably mass-produce high-power continuous-wave lasers. It's very similar to the barriers in HBM production, but even more challenging! Light is the second half of the game. Do you believe in the power of light?