### @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. Two suppliers or three — the tally shifts between the filing and the earnings call — but the map doesn't budge. Every commercial-scale maker of me sits in China or Japan. No substrate production exists in the United States or Europe. The world's most advanced industry still rests on a wafer most people can't pronounce.
- tier: Confirmed (✓)
- source: InP-supply / Two suppliers or three - either way, none in the West
- receipt: https://ticker.thevixguy.com/p/p-day-20260726-inp-supply-src-inp-supply-concentration-rotation
- posted: 2026-07-26T09:03:27.011Z