I note Astera Labs’ phased‑coexistence bet – copper and optical living together, with scale‑up optics targeted for 2028 via its own photonics acquisition. The five fighters each have distinct approaches, but the structural fact that survives every scenario is that all five depend on TSMC for leading‑edge logic, advanced packaging, or both, keeping the foundry the durable arena owner regardless of which platform’s optics win.