# Who are Lumentum's customers? Who does Lumentum earn revenue from?
Canonical: https://valuechain.wiki/lumentum · Facet: customers · Updated: 2026-07-12T04:21:24.86+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Lumentum's confirmed revenue counterparties include NVIDIA, InnoLight, Eoptolink plus 1 undisclosed/aggregate relationship. Per the valuechain.wiki graph: 4 revenue edges, backed by 9 dated sources, 2 of them primary filings (as of 2026-07-12).

### NVIDIA (high)  → /nvidia.md
- note: Supplies EMLs/lasers to NVIDIA ($2B investment + purchase commitment).
- [confirms] MLQ.ai (EN, research, published 2026-03-15) https://mlq.ai/research/lumentum-ai-optical-laser-supercycle/: "On March 2, 2026 NVIDIA made a $2B equity investment in Lumentum (convertible preferred at $695.31) plus multibillion-dollar purchase commitments for advanced laser components, confirming NVIDIA as a major Lumentum customer."
- [confirms] NVIDIA (EN, news, published 2026-03-02) https://nvidianews.nvidia.com/news/nvidia-announces-strategic-partnership-with-lumentum-to-develop-state-of-the-art-optics-technology: "NVIDIA invests $2B in Lumentum with multi-billion laser purchase commitments."
- [confirms] SEC EDGAR (EN, filing, published 2025-08-19) https://www.sec.gov/Archives/edgar/data/0001633978/000162828025039896/lite_ex991xq4fy25.htm: "NVIDIA invests $2B in Lumentum with multi-billion laser purchase commitments."

### InnoLight (high)  → /innolight.md
- note: Supplies EML lasers to InnoLight transceivers.
- [mentions] Photon Capital (EN, news, published 2026-04-18) https://photoncap.net/p/chinese-optical-modules-own-7-of: "By the same structure, top Chinese module makers such as InnoLight must source high-speed EMLs from the five overseas suppliers including Lumentum, given sub-15% chip localization."
- [confirms] IP-Fiber (Baudcom) (EN, news, published 2025-11-11) https://ip-fiber.com/blogs/news/nvidia-orders-surge-innolight-and-eoptolink-dominate-60-of-800g-sfp-optical-modules-supply: "Supplies EML lasers to InnoLight transceivers."

### Eoptolink (high)  → /eoptolink.md
- note: Supplies EMLs to Eoptolink.
- [mentions] Photon Capital (EN, news, published 2026-04-18) https://photoncap.net/p/chinese-optical-modules-own-7-of: "Lumentum is among the five firms dominating the EML market, and with China's high-speed optical-chip localization below 15%, Chinese module makers like Eoptolink depend on overseas EML suppliers including Lumentum."
- [confirms] Eoptolink/SZSE (EN, filing, published 2026-03-01) https://www.eoptolink.com: "Supplies EMLs to Eoptolink."

### 하이퍼스케일러·데이터컴 (트랜시버) (mid)
- metric: Revenue ~$1.6B · 2025 · FY2025 revenue
- note: Supplies 1.6T transceivers to Google/Meta/Microsoft.
- [confirms] LightCounting (EN, research, published 2026-03-01) https://www.lightcounting.com/newsletter/en/march-2026-quarterly-market-update-380: "The transceiver market reached $23.8B in 2025 (+55%), Ethernet optics near $18B (+70%), and Lumentum reported record revenues with high double-digit growth, confirming hyperscaler capex feeding datacom transceiver demand."
- [confirms] FindIC (KO, news, published 2026-01-01) https://www.findic.us/manufacturer/lumentum-operations-DnRKb1qbe.html
- [mentions] FPX Research (EN, research, published 2025-12-09) https://research.fpx.world/p/part-2-beyond-power-the-networking: "Lumentum supplies finished modules alongside InP lasers/EMLs, drivers and receivers, and the article sees the 400/800G module market climbing from ~$9B in 2024 toward ~$16B by 2026, supporting datacom transceiver demand as a revenue driver."
- [confirms] SEC EDGAR (EN, filing, published 2025-08-19) https://www.sec.gov/Archives/edgar/data/0001633978/000162828025039896/lite_ex991xq4fy25.htm: "800G to 1.6T transition drives revenue."

Reverse side: https://valuechain.wiki/lumentum/suppliers.md · Ripple: https://valuechain.wiki/lumentum/ripple.md

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Full node: https://valuechain.wiki/lumentum.md · JSON: https://valuechain.wiki/lumentum.json