Stack L2
Coherent Corp.
Optical transceiver and laser supplier scaling 800G/1.6T datacom for AI networking
HQ US
Fit Score
avg of 9 segmentsRecent Business Signals
Jul 22, 2026
news_mention
AXT Eyes Co-Packaged Optics: Can It Become the Next Growth Driver? - TradingView AXT Eyes Co-Packaged Optics: Can It Become the Next Growth Driver? TradingView
source: gnews-coherent-cpo
Jul 10, 2026
news_mention
InP or out: the real reason behind Coherent’s $50 million bet - Yole Group InP or out: the real reason behind Coherent’s $50 million bet Yole Group
source: gnews-coherent-cpo
Jun 25, 2026
news_mention
World Silicon Photonic Transceivers - Market Analysis, Forecast, Size, Trends and Insights - IndexBox World Silicon Photonic Transceivers - Market Analysis, Forecast, Size, Trends and Insights IndexBox
source: gnews-coherent-cpo
Jun 24, 2026
news_mention
Photonics100 Nominations Open: Shaping Optical Communications Infrastructure - fibre-systems.com Photonics100 Nominations Open: Shaping Optical Communications Infrastructure fibre-systems.com
source: gnews-coherent-cpo
Jun 18, 2026
news_mention
Tower Semiconductor ships 5 million coherent photonic circuits to Marvell for AI data centers - Crypto Briefing Tower Semiconductor ships 5 million coherent photonic circuits to Marvell for AI data centers Crypto Briefing
source: gnews-coherent-cpo
Jun 17, 2026
news_mention
Silicon Photonics Market Size, Share | Growth Report 2035 - Market Research Future Silicon Photonics Market Size, Share | Growth Report 2035 Market Research Future
source: gnews-coherent-cpo
Jun 17, 2026
news_mention
Coherent’s New Texas Plant Replaces Copper With Light, Powering NVIDIA’s 576-GPU Vera Rubin Data Centers & The Silicon Photonics Era - Wccftech <a href=" targ
source: gnews-coherent-cpo
Jun 16, 2026
news_mention
World Silicon Photonic Chips - Market Analysis, Forecast, Size, Trends and Insights - IndexBox World Silicon Photonic Chips - Market Analysis, Forecast, Size, Trends and Insights IndexBox
source: gnews-coherent-cpo
Jun 16, 2026
funding
Coherent Corp. signed a letter of intent for up to $50 million in CHIPS and Science Act funding from the U.S. Department of Commerce to expand its 6-inch InP AI semiconductor manufacturing facility in Sherman, Texas.
source: funding-research
May 26, 2026
funding
Coherent Corp. secured a $1 billion co-investment from DENSO and Mitsubishi Electric ($500 million each) for silicon carbide (SiC) wafer production.
source: funding-research
May 6, 2026
news_mention
Coherent Corp. (COHR) filed SEC Form 8-K on 2026-05-06 (period 2026-05-06); items 2.02,7.01,9.01.
source: sec_edgar
May 6, 2026
earnings
iivi-20260331 FALSE 2026 Q3 0000820318 06-30 xbrli:shares iso4217:USD xbrli:pure iso4217:USD xbrli:shares iivi:segment iivi:entity iivi:loan iivi:day 0000820318 2025-07-01 2026-03-31 0000820318 2026-05-04 0000820318 2026-03-31 0000820318 20…
source: sec_edgar
May 6, 2026
capacity_expansion
The Equity Investments in Silicon Carbide enables Coherent to increase its available free cash flow to provide greater financial and operational flexibility to execute its capital allocation priorities, as the aggregate $ 1 billion investme…
source: sec_edgar_capex
May 6, 2026
earnings
Coherent Corp. issued a press release reporting its financial results for the third quarter of fiscal year 2026 ended March 31, 2026.
source: sec_edgar
May 6, 2026
earnings
Coherent Corp. (COHR) filed SEC Form 10-Q on 2026-05-06 (period 2026-03-31).
source: sec_edgar
May 6, 2026
ipo_event
Coherent Corp. was added to the S&P 500 index on May 6, 2026.
source: funding-research
Funding & valuation history
Jun 16, 2026 · funding-research
Coherent Corp. signed a letter of intent for up to $50 million in CHIPS and Science Act funding from the U.S. Department of Commerce to expand its 6-inch InP AI semiconductor manufacturing facility in Sherman, Texas.
May 26, 2026 · funding-research
Coherent Corp. secured a $1 billion co-investment from DENSO and Mitsubishi Electric ($500 million each) for silicon carbide (SiC) wafer production.
May 6, 2026 · funding-research
Coherent Corp. was added to the S&P 500 index on May 6, 2026.
Feb 9, 2026 · funding-research
Coherent Corp. raised a $14.4 million Seed round led by FutureX Capital and Puhua Capital.
Jan 1, 2026 · funding-research
NVIDIA made a $2 billion equity investment in Coherent Corp., accompanied by a multi-year supply agreement for AI datacenter products including co-packaged optics and optical circuit switches.
Jun 1, 2025 · funding-research
NVIDIA made a $2 billion equity investment in Coherent Corp. for R&D and production expansion in co-packaged optics.
Jun 1, 2024 · funding-research
Coherent Corp. received a $2 billion equity investment from NVIDIA to fund AI R&D and production expansion.
Strategic Position
What they do best
Vertically integrated optics — owns indium-phosphide laser/EML fab through to pluggable transceiver assembly — placing it in the same physical-interconnect layer as peer Marvell Technology's optical DSP franchise.
Their bet
That AI-cluster scale-out forces 800G→1.6T pluggable and co-packaged optics volume faster than copper can stretch, making in-house laser supply (vs. merchant-laser competitors) the binding constraint it can monetize.
Top risk
EML/laser fab yield cannot ramp to 1.6T volume before hyperscalers qualify second sources, ceding design wins to Marvell-DSP-led module partners within the next two quarters — falsifiable via 1.6T qualification announcements by Q4 2026.
Forward view
Derived from public capacity & product announcements — not a company-authored roadmap.
capacity expansion · May 6, 2026
The Equity Investments in Silicon Carbide enables Coherent to increase its available free cash flow to provide greater financial and operational flexibility to execute its capital allocation priorities, as the aggregate $ 1 billion investment, net of transaction costs, is being and will continue to be used to fund future capital expansion of Silicon Carbide.
Compared to peers
Direct competitor
Marvell Technology, Inc.
Marvell leads with optical DSP/PAM4 silicon and partners for lasers; Coherent owns the laser/EML fab but lacks Marvell's DSP attach.
Substitute
Astera Labs, Inc.
Astera's electrical retimers and active copper extend reach without optics at rack scale, displacing short-reach optical modules where Coherent competes.
Why someone would join
- 1.Fit-score model rates Coherent avg 75.1 across all 4 segments (range 73.9–76.9, segment 23bfd311 highest at 76.9) — a consistently above-baseline profile with no weak segment, unlike single-segment-spike peers.
- 2.Sits in the same L1 physical-interconnect layer as NVIDIA (customer) and Marvell (competitor): a vertically integrated laser-to-transceiver maker positioned on the AI-network bottleneck NVIDIA's scale-up roadmap depends on.
Recent Hiring (60 days)
No specialty signals in the last 60 days.
Reverse-Hype Watch
- !Issuance of $2,000,000k in common shares occurred alongside $57,291k in restructuring charges, including employee severance, for the nine months ended March 31, 2026.
- !Capacity build unbacked by direct customer signals: capex $547,228K (+77%) and inventories +$699,420K (to $2.13B, +48%) 'ahead of AI optics orders' while business_signals_180d is empty and 10-Q has 'no explicit customer case studies'; operating cash fell to $10,058K from $503,316K.
- !Capacity claim weakly backed: capex +77% ($547.2M 9M) and inventory +48% to $2.13B built 'ahead of AI optics orders', but operating cash flow collapsed to $10.1M from $503.3M and no customer-win/business_signals supplied to confirm demand.
- !Capacity-vs-customer mismatch: capex '$547,228K vs $309,486K' and inventory '+48% vs $1.44B' built 'ahead of AI optics orders', but 'no explicit customer case studies in supplied signals' and business_signals_180d is empty.
- !Equity-raise-with-burn: '$2,000,000K common issuance' alongside an active '2025 Restructuring Plan' with '$57,291K' restructuring charges and operating cash flow collapsed to '$10,058K vs $503,316K'.