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Glad $SIVE is attending CIOE Shenzen and hope my followers can go too! If you want my read on current landscape: -> Chinese pluggable makers like CIG (剑桥科技) are facing severe shortages in 70mW-200mW lasers. If you look at filings from CIG, they claim "substantially longer delivery times and deposits to secure capacity” along with statements of shortages. -> Innolight and others were also looking to secure multiple laser suppliers with LTAs recently from their filings. On the US side of things: -> $COHR was a major merchant laser supplier before, but largely withdrew from the market after rerouting them internally. "I do not see any time in the near future where we would be selling Indium Phosphide lasers externally." From their ER transcript. And then likely turned into a buyer in an already supply constrained market... where "over the long term, we will have some portion of our datacom transceivers that will be supported by external sources." -> $AAOI not really known to be a merchant supplier, but said same thing about laser capacity being rerouted towards transceivers. And having to turn away customers for lasers. -> For $LITE, they still supply lasers but stated: "We are commanding a significant price premium" for CW lasers $LITE Wupen Yuen: "wherever they can get the laser source, they will use that solution to support their build-out." So hinting... about customers just finding anything available due to shortages. -> $MTSI has no meaningful capacity online now, but they're already stating customers are approaching them with urgency to secure CW laser supply. -> Trendforce reported $AMD and hyperscaler CSPs are aggressively going out to secure CW laser supply to avoid future bottlenecks. And then you have Europe... Where $SIVE is coming online with "tremendous capacity available now" from their foundry partners. With 100M+ laser capacity Q4 2027, and maybe if you look at their 2:1 ratio implying ~200M targeted laser capacity from external foundries. They also happen to offer the same power range (70mW, 100 mW, 200mW) as the ones currently in shortage by pluggable makers in China. There's a massive void to fill, so this dramatically increases the chance of converting customers. (esp. Supported by Lumentum statements) My speculation was that some of the 6 active pluggable engagements were from China? Which is why they're attending the conference. So to any of my Chinese followers, maybe you can ask a few questions like: - if Europe is a laser source geography, if Innolight/Eoptolink/Cambridge are considering $SIVE. - if they're seeing ASP hikes in lasers, and what CW products are hardest to obtain If you are attending CIOE in Shenzhen!