Amid the artificial intelligence (AI) frenzy, stock gains for AI infrastructure-related stocks have outpaced those of industry leader Nvidia, CNBC reported on the 24th.
A prime example was Lumentum, which produces components for fiber-optic cables. Lumentum's share price has jumped 372% this year, pushing its market capitalization past $28 billion (about 40.4 trillion won).
With AI infrastructure investment increasing, including in data centers, Lumentum's sales have grown. The market expects Lumentum's revenue to rise 58% in fiscal 2026 (July 2025–June 2026). However, it projects annual revenue growth to slow to 32% in fiscal 2027 and 15% in fiscal 2028.
Hard-drive makers Western Digital and Seagate have seen their share prices climb 284% and 285%, respectively, this year. Memory semiconductor corporations Micron Technology has also recorded a year-to-date gain of 228%. AI corporations increasingly need more storage capacity and processing power.
Celestica, which manufactures switches that control data and traffic on network equipment, has gained more than 230% this year. CNBC said rising demand for AI application-specific integrated circuits (ASICs) is acting as a tailwind for Celestica.