Coherent，股票代码 CHR，找到了一种方法，从每片晶圆中制造出四倍多的激光器，而成本却只有一半。
Coherent, ticker symbol CHR, which found a way to make four times more lasers out of every wafer at half the cost.
Coherent 和 Lum 也面临一些严重的风险。首先，这两家公司都不生产自己的原材料。其次，如果超大规模数据中心的支出确实放缓，这两只股票都会受到重创。
Coherent and Lum also share some serious risks. First, neither of them make their own raw materials. Second, if hyperscaler spending does slow down, both of these stocks will get hit hard.
数据中心占 Coherence 收入的 70% 以上。第三个重大风险是，磷化铟短缺和供应限制意味着两家公司都必须增加支出才能大规模扩张，而且他们需要在需求旺盛的时候做到这一点。
data centers account for more than 70% of Coherence revenues. And the third big risk is that indium phosphide shortages and supply constraints mean that both companies have to spend more in order to scale aggressively and they need to do it while demand is hot.