Record revenue and earnings! Despite Datacom component shortages, Fabrinet delivered a strong quarter on robust DCI and HPC demand. More importantly, FN announced its entry into the direct-to-hyperscaler supply chain and a move into CPO through a strategic investment in Raytek.

Fabrinet posted $1.3B+ in quarterly revenue, up 45% YoY, its sixth straight quarter of accelerating growth, with Data Center crossing half of revenue for the first time. The bigger story: management raised its long-term capacity ceiling from $11.5B to $14B and walked through it building by building.