TEL hardened its thesis across every power and copper connectivity vector tied to AI infrastructure, while candidly acknowledging it remains a minor player in scale-out optics. The capex supercycle belief strengthened further.
Tessara post-call read · synthesized from the earnings-call transcriptreported Jul 22, 2026
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What moved, what it means for the thesis, and the signal others missed. Every name you cover, the night it prints.