Lumentum称英伟达Spectrum-6光模块需求大增
So update from $LITE + Win Semi ( $SIVE ) foundry:
直接披露了英伟达下一代光互连架构(Spectrum-6)的供应链现状与产能瓶颈，涉及Lumentum、Win Semi、ASML等关键玩家，对判断算力硬件产业链趋势极具参考价值。
So update from $LITE + Win Semi ( $SIVE ) foundry:
因此，来自 $LITE + Win Semi（$SIVE）代工厂的更新如下：
Lumentum in a meeting with Stifel at ECOC 2026 stated:
Lumentum 在 ECOC 2026 与 Stifel 的会议上表示：
- $NVDA Spectrum-6 CPO UHP demands increased materially. - NPO as larger than CPO, with multi-wavelength external lasers lifting ASPs (Sivers offers multi wave length DFB arrays, read through on higher valued products) - Demand for UHP lasers continues to exceed supply
- $NVDA Spectrum-6 CPO UHP 需求大幅上升。 - NPO 规模大于 CPO，多波长外置激光器推高了 ASP（Sivers 提供多波长 DFB 阵列，请参阅关于高价值产品的解读） - UHP 激光器的需求持续超过供应
Just a status update in terms of how the optical bottleneck is going (laser prices going up, demand exceeds supply).
这仅是对光瓶颈现状的更新（激光器价格上涨，需求超过供应）。
Digitimes also reported today Win Semi ( $SIVE foundry ) was expanding capacity for CW lasers.
Digitimes 今日也报道，Win Semi（$SIVE 代工厂）正在扩大 CW 激光器的产能。
- "CW products... are expected to gradually emerge in the second half of 2026", with meaningful revenue contribution likely coming in 2027 and 2028. - Win has strengthened inventory management for InP substrates while moving toward 6-in InP wafers for ongoing process testing. Currently relies on Tier-1 International suppliers. - Many of this was spent on DUV tools from $ASML but (Win Semi's orders spanned machinery, equipment, and fab engineering work)
- "CW 产品……预计将在 2026 年下半年逐渐涌现"，有意义的营收贡献可能出现在 2027 年和 2028 年。 - Win 已加强 InP 衬底的库存管理，同时推进用于持续工艺测试的 6 英寸 InP 晶圆。目前依赖 Tier-1 国际供应商。 - 其中大部分资金用于购买 $ASML 的 DUV 设备，但（Win Semi 的订单涵盖了机械、设备和晶圆厂工程工作）
So that answers a lot of questions about Sivers' partner "how is this company securing InP substrates", "4in vs 6in", "production timing"
这就解答了许多关于 Sivers 合作伙伴的问题，例如“该公司如何确保 InP 衬底供应”、“4 英寸与 6 英寸”以及“生产时机”。
TLDR: - NPO > CPO (per Lite), multi-wavelength lasers going brrr for prices - demand > supply (continuation) - Not sure why people have been bear posting Win Semi when turns out they have everything needed to mass produce CW lasers.
TLDR： - NPO > CPO（据 Lite 称），多波长激光器价格持续上涨 - 需求 > 供应（持续状态） - 不清楚为何人们一直在看空 Win Semi，结果发现他们具备量产 CW 激光器所需的一切条件。
更进一步：量化金融体系
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