Lumentum invests in InP wafer manufacturing facility, expects capacity to increase by more than 40%

In the most recent quarter, Lumentum invested $43 million in its InP wafer manufacturing facility and expects the company's production capacity to grow by more than 40% over the next 12 months. CEO Alan Lowe said the company has booked record orders for data communications chips used in data center applications and is seeing positive trends in the broader traditional networking market.