Who Coherent buys from and sells to
Makes optical transceivers, lasers and compound-semiconductor materials, mostly in its own fabs; datacom is most of revenue.
Part of AI Capex spending
Buys from 2
Where the chain could break
- Datacenter & Communications was ~79% of FQ4 2026 revenue, tied to a few hyperscaler build plans
- Indium phosphide laser capacity is the bottleneck; NVIDIA has reserved a share of it
Competes with
- LumentumLITEthe same transceivers and lasers, sold to the same buyers
- InnoLightthe largest Chinese transceiver maker, on price
- Eoptolinkthe same, from China
- Applied OptoelectronicsAAOI800G transceivers for the same hyperscalers
Mapped by hand from filings and company reporting, as of October 2026. It shows the relationships that matter most, not every contract: most are never disclosed, and agreements change.