MicroLED's poor prospects and growing expert enthusiasm for VCSEL could put ams OSRAM on more investors' radars. An ams OSRAM optical-interconnect executive says a 1.6T active linear cable was demonstrated using the company's micro-emitter engine with Credo's help, and their short-reach micro-optics partnership continues. x.com  x.com  x.com 

ams OSRAM's pivot to digital photonics could look remarkably cheap in hindsight if micro-photodiodes and AR microLEDs scale as AI hardware shifts to optics. Its micro-photodiode arrays target parallel optics in AI clusters, reusing high-volume microLED packaging. Q2 revenue of €805M and a 16.9% adjusted EBITDA margin hit the top of guidance; core semis grew 13% like-for-like, with €1.6B of design wins. Refinancing cut interest by about €40M, though 2026 remains a transition year. x.com 

ams-OSRAM's €570M sale of its non-optical sensor unit to Infineon is a key catalyst: it roughly halves debt and frees resources for its pivot into AI photonics such as MicroLED, after legacy units kept it from focusing on AI growth. Its CEO says photonics revenue could come as early as 2027, probably slightly optimistic. MicroLED is a niche contrarian to mainstream CPO, but ams-OSRAM has rare high-volume MicroLED manufacturing experience. It stays a high risk-reward bet on uncertain adoption. … Show more