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Lumentum shares jumped nearly 10% while Corning's stock barely moved, prompting questions about whether the AI optics trade—betting on demand for optical networking components tied to AI data centers—is beginning to split apart between winners and laggards. The divergence suggests investors are differentiating between companies based on specific AI infrastructure exposure rather than treating the sector as a uniform trade. The split highlights how investor enthusiasm for AI-infrastructure suppliers is becoming more selective as the buildout matures and company-specific fundamentals come into sharper focus.