Nvidia’s $2B Lumentum Pact, TSMC’s NT$415B Sales and OpenAI Chip Delay
Nvidia’s $2 billion investment in Lumentum backs optical components sold out through 2028, driven by accelerating orders for AI data centers. TSMC’s March revenue of NT$415.19 billion (+45.2% YoY) supports Nvidia’s chip demand, while OpenAI’s pause on Stargate UK delays leasing of up to 8,000 Nvidia chips.
1. Nvidia’s Investment in Lumentum
Nvidia invested $2 billion in Lumentum in early March 2026, including a multibillion-dollar purchase commitment for ultra-high-power lasers and next-generation optical interconnects. Lumentum’s order book is filled through 2028 thanks to surging demand from US hyperscalers and AI-data-center expansion.
2. TSMC’s Strong March Sales
Taiwan Semiconductor posted March revenue of NT$415.19 billion, up 45.2% year-over-year, and first-quarter revenue of NT$1.134 trillion, up 35.1% YoY, slightly exceeding market forecasts. As a key Nvidia supplier for advanced AI chips, robust shipments bolster Nvidia’s production capacity for upcoming data-center deployments.
3. OpenAI’s Stargate UK Pause
OpenAI has halted its Stargate UK project, deferring the planned leasing of up to 8,000 advanced Nvidia chips due to regulatory uncertainty and high energy costs. This decision could delay Nvidia chip orders in the UK and affect short-term demand forecasts.
4. Implications for Nvidia’s Stock
The Lumentum partnership and strong TSMC sales enhance Nvidia’s AI supply-chain resilience, ensuring component availability through 2028. While the OpenAI pause introduces demand uncertainty in the UK, overall supply capacity gains may offset near-term project delays and support stock momentum.