The OCP 2026 white paper, Lumentum's capacity lock-up race and Anthropic's 1-million-TPU deal mark the arrival of the optical direct-connect era. The full edition adds STT's golden-ratio formula, cube-position formula, a $22k OCS BOM, an 800G/1.6T BOM comparison and 13 stock view cards.

Goldman Sachs lifted its 2028 optical module market forecast to $148.5B, up 115% - but shipments were raised only 31%, implying ASPs up about 64%. Two-thirds of this growth comes from price, and what props up price is InP, short by more than 70%. The ceiling is high enough; the next year will be decided by the denominator.

In one day LandMark Optoelectronics locked in materials, orders and tools, and its stock hit limit-up at NT$3,255. But the five board resolutions are three facets of one story: materials, orders and machines, and companies lock these down by contract when they are lifelines, not when they are safe.

LandMark's 2Q26 gross margin hit 57% and EPS reached a record NT$4.62, with SiPh CW lasers now over 80% of revenue. The real signal: nearly NT$6 billion of CAPEX over three quarters, all aimed at 2.5x capacity by 2027, with multi-wavelength capability raising both the technical bar and ASPs.

Taiwan's optical stocks hit limit-up on Oct 2, but the Senate bill and the reported FCC route are two different paths. The 3.2T start line and the 65% US-BOM threshold decide who wins orders, and when.