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Discussion: The Entire AI Buildout (Google, NVDA, MSFT) Is dependent on this $700m Monopoly - $15 -> $150 PT.
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POET, AVGO, AAOI, LITE, COHR, and any US photonics company are one level higher where they all depend on InP substrates or Indium Phosphide to make their optical components.
Basically AXTI is the lowest level of the entire supply chain.