On September 14, Lumentum fell 7.47% in regular trading, trading at $847.54/share, with turnover of $513 million. The selloff was triggered by a rare coordinated statement from Anthropic, OpenAI, and xAI over the weekend calling for the industry to slow the pace of frontier AI model development.

Anthropic CEO Dario Amodei published a lengthy essay urging restraint in frontier model development. OpenAI CEO Sam Altman publicly endorsed the message, while xAI founder Elon Musk stated that Amodei was right. The consensus among the three AI leaders rattled investor confidence in the near-term trajectory of AI infrastructure spending, putting direct pressure on upstream hardware suppliers including optical communication names. Within the sector, Nokia fell 10.06%, Applied Optoelectronics dropped 7.59%, Arista Networks declined 6.69%, and Ciena lost 7.15%.

Lumentum had previously rallied over 14% from September 8 to 9, fueled by Goldman Sachs raising its global optical module shipment forecast and new buy-rated coverage initiations from Deutsche Bank and Evercore ISI. The sharp prior run-up had built significant profit-taking pressure, amplifying the pullback on sector-wide headwinds. Analysts noted that while short-term sentiment is under pressure, slowing AI development does not necessarily equate to a reversal in AI capital expenditure cycles.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)