On September 21, Lumentum rose 3.19% in regular trading, trading at $955.36/share, with turnover of $382 million. The stock gained momentum following the announcement of a joint optical die-to-die interconnect demonstration for AI systems.

Lumentum, Qualcomm Technologies, and Corning announced they will showcase a high-density optical die-to-die interconnect for AI scale-up systems at ECOC 2026 in Malaga, Spain. The demonstration combines Qualcomm's D2D interface, Lumentum's 1060 nm VCSEL optical platform, and Corning's multimode fiber connectivity to enable high-bandwidth, low-power, and low-latency links over tens of meters. The proof-of-concept uses 32 Gb/s NRZ optical channels supporting approximately 1 Tb/s/mm of shoreline bandwidth density, with a roadmap to 4 Tb/s/mm. Lumentum's optical engine provides roughly 10 Tb/s of aggregate transmit and receive capacity through high-density VCSEL and photodetector arrays.

The announcement adds to a series of bullish catalysts including Deutsche Bank initiating coverage at Buy with a $1,200 target, Rothschild raising its target to $1,294.85, and Goldman Sachs lifting optical module industry expectations amid surging AI-driven demand.

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