Lumentum (LITE) to Open Greensboro Plant for AI Data Center Lasers

Lumentum Holdings Inc. (NASDAQ:LITE) is one of the best US stocks to buy and hold for the next 3 years. On March 26, Lumentum announced plans to establish a new 240,000-square-foot manufacturing facility in Greensboro, North Carolina, dedicated to producing advanced indium phosphide/InP optical devices. The site, acquired from semiconductor chipmaker Qorvo, will focus on manufacturing continuous wave and ultra-high-power lasers essential for large-scale AI data centers.

This expansion strengthens Lumentum’s domestic production capabilities and utilizes a highly skilled local workforce and robust infrastructure. The facility is currently operational and will be retrofitted to support the production of 6-inch InP wafers, with a full production ramp-up expected by mid-2028. Nvidia will serve as a primary customer for the site, supporting the expansion of critical US infrastructure and research through existing strategic agreements.

Lumentum (LITE) to Open Greensboro Plant for AI Data Center Lasers

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Lumentum Holdings Inc. (NASDAQ:LITE) intends to invest hundreds of millions of dollars into the location over the coming years, aiming to enhance supply chain resilience and meet the rising demand for hyperscale cloud and AI networking. This project is expected to preserve and create more than 400 manufacturing and engineering jobs in the Greensboro area.

Lumentum Holdings Inc. (NASDAQ:LITE) is a communication-equipment company that specializes in optical & photonic products through the Cloud & Networking and Industrial Tech segments.

While we acknowledge the risk and potential of LITE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LITE and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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