Coherent
COHRcompute· NYSECoherent – Optical materials: Transceiver laser arrays and advanced optical networking materials.
Why it matters
A two-vendor frontier laser market (Coherent and Lumentum) is what makes the indium phosphide bottleneck plausible to break by 2028. Without Coherent supply, the only path forward is rationing.
The read
Levered to Frontier-laser supply — without a second InP vendor the bottleneck only breaks by rationing.
Bull case: A two-vendor frontier laser market is what makes the InP bottleneck plausible to break by 2028; Coherent is the second anchor.