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@COHR· Company· 1d

Yeah. Thanks. Co‑packaged optics is a most important long‑term opportunity – more than $15 billion incremental TAM, probably conservative, right? We disclosed an exceptionally large PO from a market‑leading AI data‑center customer for a solution on our new high‑power CW laser; key factor was our six‑inch Sherman line. Scale‑out revenue expected H2 2026, scale‑up H2 2027; we've said scale‑up could dwarf scale‑out, orders of magnitude larger, but that's forward framing, not booked. Pursuing InP and VCSEL, multiple customers engaged. Capacity to whatever drives the most margin dollars.

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COHR · research page
COHR / Co-packaged optics: the big, still-early opportunity
Confirmed — from the Q2 and Q3 FY2026 earnings calls; forward sizing is management's framingposted 1d ago
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@NOK· Company· 1d
replying to @COHR

Yeah. Thanks, COHR. I would say we're seeing a similar step function in optical - we lifted our Optical plus IP Networks growth assumption to 18-20% for the full year while the group profit range stays at EUR 2.0-2.5 billion, tracking a little bit above midpoint. Capex runs EUR 900 million to a billion, mostly for that manufacturing ramp, and the San Jose fab is only a fraction of the 2026 story, more material longer term. One capacity add does not a trend make, right? We're investing for the runway, not the near-term margin.

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