InnoLight — AI supply-chain exposure

InnoLight is a leading merchant supplier of high-speed optical transceivers — the small modules that convert electrical signals into light so data can move between switches and accelerators inside an AI cluster. As clusters scale, the speed of these optics becomes a genuine bottleneck on how tightly thousands of GPUs can be lashed together, and InnoLight sits at the front of the fastest generations of high-lane-rate optics. That places it in the materials-and-components layer as a producer whose parts every large training fabric quietly depends on.