Lumentum Holdings Inc. (LITE) Presents at Deutsche Bank 2026 Technology Conference Transcript

SA Transcripts 162.03K Followers Follow Lumentum Holdings Inc. ( LITE ) Deutsche Bank 2026 Technology Conference August 27, 2026 1:45 PM EDT Company Participants Michael E. Hurlston - President, CEO & Director Conference Call Participants Gianmarco Conti - Deutsche Bank AG, Research Division Presentation Gianmarco Conti Deutsche Bank AG, Research Division All right. I think we're live. Welcome, everyone, back to DB's 20th Annual Tech Conference. My name is Gianmarco Conti. I'm heading the hardware equity research team here at DB. Today, we have the pleasure of hosting Michael Hurlston, CEO of Lumentum. Question-and-Answer Session Gianmarco Conti Deutsche Bank AG, Research Division So Michael, I want you to open as wide as possible. For 50 years, the story of computing has been the chip and connecting the chip was an afterthought. Optics has forever been the technology of the future. 25 years later, we're in the largest infrastructure build-out in history and the bottleneck has shifted from the chip to the connectivity. So my question is straightforward. Let's just set the stage for everyone. What fundamentally changed? Why is light winning? And what makes this moment structurally different from the last time? Michael E. Hurlston President, CEO & Director Yes. First, Gianni, thanks for having me. I mean, really a pleasure, not too bad a setting, I must say. Gianmarco Conti Deutsche Bank AG, Research Division Yes. I know it's not too bad. Michael E. Hurlston President, CEO & Director Too bad. Look, I mean, what's happening right now is the speed that's required in these compute racks has gone up to a degree that copper cannot carry it over x distance. So at 800 gig, so the connection rate of, let's say, 800 gig, copper can carry 800 gig reliably, maybe 10 meters, right? Now we're at 1.6T. Copper can carry that maybe reliably 2 to 3 meters, right? There's many, many links inside a rack or inside a cluster, inside