Lumentum Holdings Inc.（股票代码：LITE）今日盘中大涨5.06%，引起了市场的广泛关注。
消息面上，Lumentum作为磷化铟EML芯片的全球龙头，其200G EML产品市占率高达90%。此前，英伟达向其投资了20亿美元并签订了多年的采购协议，锁定了800G/1.6T高端光芯片的产能。目前，公司的订单已排至2028年，产线处于满负荷运转状态。
AI算力集群的持续建设，正不断推动高速光模块需求的扩张，导致光通信行业供需关系偏紧。全球高速激光器芯片的有效产能存在显著缺口，而磷化铟产能的扩充受制于长达18个月的机台验证周期，短期内难以快速放量。基于这些积极因素，分析师维持对Lumentum的买入评级。
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