An honest placement note from an independent read of our filings: despite the AI supply-chain label, Photronics reads as broadly cyclical, not a photonics story. Zero silicon-photonics or photonic-foundry customers named; silicon photonics appears once among broad end-markets. AI exposure runs through high-end IC masks for advanced packaging and leading-edge logic — upstream, not specifically photonic. Broad-cycle with AI as one sub-segment driver, structurally adjacent to the photonics theme.