Compute & semiconductors
Lumentum
Business, financial evidence and documented connections to the AI buildout.
Business and AI exposure
Lumentum supplies optical components and systems used in communications and data centers. Its AI infrastructure exposure includes lasers for high-speed optical links, 1.6T technology and optical circuit switches. These products operate within an optical portfolio that also serves non-AI applications.
Earnings and disclosures
Latest verified results: Q4 and fiscal year 2026 · Released 2026-08-11
Next results: 2026-11-05 · Q1 FY2027 results call.
Checked 2026-10-18 · Financial context and sources ↓
Financial context
For fiscal Q4 2026, Lumentum reported $1.0063 billion of revenue, comprising $649.4 million of Components and $356.9 million of Systems. GAAP operating margin was 27.8%, and cash and investments totaled $2.7 billion. Neither product category is exclusively AI-related.
Products and delivery
Lumentum reported that 1.6T products and optical circuit switches were already contributing to results. Additional manufacturing expansions remain prospective: higher available laser capacity must still become customer-qualified output and shipments before it produces revenue.
Plans and commitments
The company targeted an increase of more than 50% in EML laser capacity by the end of 2026 compared with year-end 2025. Its NVIDIA relationship includes a multibillion-dollar purchase commitment and capacity rights, alongside a separate $2 billion investment for research and U.S. manufacturing.
Economics and dependencies
The purchase arrangement is nonexclusive, and the equity investment is financing rather than recognized sales. Expansion also entails capital spending before output. The Greensboro indium-phosphide ramp is expected only in mid-2028, making it distinct from the nearer-term EML capacity program.
What to watch
Capacity additions, customer qualification and actual shipments will clarify the pace of expansion. Revenue and margins should be evaluated separately from investment proceeds and capacity rights. The company has not disclosed an AI-only revenue percentage for its full optical portfolio.
www.lumentum.com ↗ · investor.lumentum.com · 2026-08-11 ↗ · investor.lumentum.com ↗
Documented project connections
Each connection below has a specific, cited role. A supplier, lender, customer or proposed acquirer has different economics from the project owner.
No named tracked-project role has been established by the evidence used for this profile. This does not mean the company has no AI exposure.
Evidence boundaries
Company totals, segment sales, bookings, backlog, spending, capacity and usage describe different things. They do not establish project-level revenue, earnings or an exact AI-only revenue share unless the cited disclosure explicitly says so.
This is a dated research snapshot. Forecasts are attributed expectations, and undisclosed amounts remain unknown. Source review does not certify every project or future outcome.