Gaetano (@crux_capital_) on Surfaced

Gaetano (@crux_capital_) on Surfaced

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23 posts

@crux_capital_Jun 4, 2026 · 10:30 PM

Why $LITE $COHR $NOK $GLW $CIEN ... The chain looks like this: > AI clusters spread across physical locations. > Scale-across DCI grows. > Multi-rail architectures ramp. > Line systems and amplification demand increase. > Pump lasers and narrow-linewidth lasers get tighter. > Coherent DSPs and modules grow. > InP capacity becomes more strategic. > Fiber and route density become more valuable. Every link in that chain has one of these companies attached to it in a meaningful, and Ciena just validated the whole thing.

@crux_capital_Jun 4, 2026 · 7:38 PM

$CIEN Call was... Bullish $CIEN Bullish $NOK Bullish $LITE Bullish $COHR Bullish $GLW

@crux_capital_Jun 4, 2026 · 9:49 AM

If you care about $NOK Or $LITE or $COHR or $CIEN etc. You'll want to read this

@crux_capital_Jun 1, 2026 · 8:05 PM

If you like $NOK Then you should listen to the $CIEN earnings call On Thursday Will give lots of signal! Give this a quick read👇

@crux_capital_Jun 1, 2026 · 5:47 PM

Well, today is a good day $NOK $AMBA $AAOI

@crux_capital_Jun 1, 2026 · 12:36 PM

$NOK With so much traction lately If you haven't read this yet, please do!

@crux_capital_Jun 1, 2026 · 1:51 AM

These $NOK Insider buys are really interesting I don't know if any of the companies I own have had insider buys when moving up like this Most of them have pretty heavy selling Very notable...

@crux_capital_May 26, 2026 · 10:14 PM

When I first started covering $NOK in March This is what I saw: > A rerate setup hiding inside a legacy telecom wrapper > A mix shift toward AI network infrastructure, led by Optical and IP > AI traffic, agentic workloads, and scale-across creating more demand > Infinera and San Jose InP capacity give manufacturing depth > NVIDIA with a path to turn telecom sites into edge AI infrastructure Since initiating my coverage, I've written 8 Substack articles + over 20 real tweets about them. Talk about coverage 😂 But that's exactly my goal. Find high conviction opportunities and COVER them

@crux_capital_May 26, 2026 · 2:18 PM

$NOK You have surpassed all my expectations!

@crux_capital_May 24, 2026 · 6:40 AM

My last $NOK article got a lot of love So I wanted to share another! Please bookmark + share if you like it

@crux_capital_May 22, 2026 · 2:00 PM

Congrats on the new highs for everyone in this! $NOK

@crux_capital_May 22, 2026 · 12:48 PM

I did not expect this to get so much traction I'll post a few more of my $NOK articles on X this weekend

@crux_capital_May 21, 2026 · 11:00 AM

$NOK This is a must read!

@crux_capital_May 21, 2026 · 3:00 AM

There was a big signal for $NOK in the $NVDA call Anyone catch it? I am going to share an entire report on it in a few hours here on X

@crux_capital_May 20, 2026 · 11:05 PM

@pennycheck AI Ran. Hey $nok

@crux_capital_May 19, 2026 · 8:07 PM

Following up on Scale Across... $LITE $CIEN $COHR $GLW $NOK Multi-Rail Means More Content Per Deployment A rail is a parallel optical path across the network. A normal DCI or scale-across deployment might use fewer optical paths between buildings or data centers. A multi-rail architecture uses many parallel optical paths at once so traffic can move across a larger AI fabric with more bandwidth, more redundancy, and more flexibility. More rails do not only mean more fiber. They also mean more optical equipment around that fiber. Each additional rail can require more amplification, more pump lasers, more narrow linewidth lasers, more optical switching, more routing, and more monitoring. So as hyperscalers move toward multi-rail scale-across networks, Lumentum content per deployment can rise. Hurlston said scale-across components were probably more constrained than EMLs right now, specifically pump lasers and narrow linewidth lasers. That is a striking comment given how much attention the EML supply-demand imbalance gets. So the main take away that I want you guys to have is that multi-rail turns scale-across from “more connections” into “more optical content per connection.” This also explains the broader read-through. Ciena and Nokia benefit at the optical systems layer because they sell the transport platforms and line systems. Corning benefits at the fiber and connectivity layer because more rails require more fiber density. Coherent is closer to Lumentum because it also has pump lasers, narrow-linewidth/tunable lasers, optical components, transceivers, and InP capacity tied to scale-across and DCI. But for Lumentum specifically, the point is that scale-across is pulling on the exact component categories management called scarce. That makes scale-across a direct Lumentum margin driver.

@crux_capital_May 19, 2026 · 12:04 PM

$LITE Is pushing hard on scale across Working on a full breakdown from the call yesterday Here is a slop infographic that summarizes part of my scale across section There is also readout for $COHR $CIEN $NOK here https://t.co/KdUhNFQ5Bk

@crux_capital_May 19, 2026 · 8:33 AM

I often get asked what my largest positions are Well, here they are: $LITE $COHR $CIEN $NOK $GLW $AAOI These make up a majority of my portfolio If you want to learn: > what my thesis is > where I see these stocks going over the next 12 months > what I am watching for / risks I see I have many many articles about them on my Substack https://t.co/6T2naqbkXV

@crux_capital_May 19, 2026 · 3:07 AM

I am VERY bullish on scale-across $CIEN $NOK $LITE $COHR $GLW $SMOP Every company over the last few weeks has been hammering the point here They are seeing so much demand in the segment Please read the post below. A lot has changed since then, but its a good intro

@crux_capital_May 18, 2026 · 3:56 AM

You can make a lot of money trading high spec stocks In the NYSE/NASDAQ optics space that's typically $LWLG $POET $ALMU Personally, I can't go into any of these with any meaningful size until they actually show commercial traction + successful deliveries They are great story stocks (some better than others) and if you are good with timing, you can make lots of money up and down I always start with a small size and add on successful commercial milestones. Companies like this have to EARN their weighting My personal strategy relies more on going heavy on companies like $LITE $COHR $GLW $CIEN $NOK etc. Companies that have massive scale, fill a crucial need, and have meaningful exposure to what's to come Everyone has a different strategy and should do what works for them Just sharing some of my own 2 cents! NFA

@crux_capital_May 13, 2026 · 4:25 PM

Congrats on new highs! $NOK

@crux_capital_May 13, 2026 · 5:55 AM

Some of the best re-rate candidates in optics Came from companies with legacy businesses Or heavy copper exposure And are transitioning to heavier optical product mix Companies like $smtc $mtsi $aaoi $nok $crdo etc. If you can > find companies that have an under appreciated, high growth business hidden inside a larger company that traditionally deserves a low multiple > figure out how they will transition into a higher growth market and how quickly and how effectively and at what cost > have a guess on when the market will start to pay attention to this shift You can make a lot of money

@crux_capital_May 12, 2026 · 7:05 PM

$NOK Check this out! I just finished up my article on NOK There's NO paywall, enjoy! https://t.co/Su4y3f3Z5a