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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.

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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.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

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Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
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