Been tracking $TSEM - Tower Semiconductor for a while. Now it’s obvious. Think like: $TSM for GPUs $TSEM for photonics. $TSEM integrating $LWLG into its silicon photonics platform right after massive AI optical spending isn’t random. This is a foundry building the next AI stack. They fabricate silicon photonics chips that combine lasers, modulators, and detectors on one platform to move data using light. Photonics is the next bottleneck. As AI scales to 800G and 1.6T networks, this layer becomes critical and supply is limited. $TSEM is helping build that layer. Limited supply. Exploding demand.