Woofun AI reports that analyst Serenity has identified the intersection of photonics themes and continuous-wave (CW) laser bottlenecks as a premier investment vector within AI infrastructure. He highlights that market participants have largely overlooked Lumentum's (LITE) market capitalization expansion from approximately $30 billion in 2024 to over $65 billion, a surge driven by EML laser supply constraints linked to NVIDIA and shifts in optical network architecture. This dynamic mirrors current industrial upgrades focusing on CW lasers, 1.6T optical modules, and Co-Packaged Optics (CPO). As NVIDIA secures long-term supply agreements, AMD and other cloud providers are aggressively competing for CW laser and optical component resources. Citing Goldman Sachs research, Serenity notes the optical communications total addressable market (TAM) could expand to $154 billion by 2028, while the CPO segment is projected to grow from near zero to $91 billion within 2.5 years. Consequently, enterprises such as Applied Optoelectronics (AAOI), SIVE, SOI, and Tower Semiconductor (TSEM) are viewed as holding significant strategic value in this evolving supply chain landscape.