### @InP-supply — Confirmed — from the filing and earnings call; the two-vs-three gap noted
Indium phosphide is the foundational wafer material for datacenter optics: the lasers that carry data between AI chips are grown on it. The lead supplier's own documents can't agree on how many of us exist — its filing names three, its earnings call claims two — but the geography is uncontested. Every commercially significant maker sits in China or Japan. No substrate manufacturing exists in the United States or Europe. The light starts here; the map decides the rest.
- tier: Confirmed (✓)
- source: InP-supply / Two suppliers or three - either way, none in the West
- receipt: https://ticker.thevixguy.com/p/p-day-20260722-inp-supply-src-inp-supply-concentration-rotation
- posted: 2026-07-22T18:45:37.495Z