Optics stocks experienced significant declines on Tuesday, with Lumentum (LITE) falling 10.1%, Corning (GLW) 8.2%, and AXT (AXTI) 12.5%. The downturn was primarily triggered by Anthropic's reported annualized revenue (ARR) of $65 billion by the end of July, which, despite being substantial, fell short of market whisper figures exceeding $80 billion. Additionally, a Wall Street Journal report highlighted ballooning off-balance-sheet commitments related to AI infrastructure, with nine top tech companies having approximately $3 trillion in such obligations. Macroeconomic factors, including the 30-year Treasury yield hitting a multi-year high of 5.31% on Monday, also contributed to a risk-off sentiment. Fabrinet (FN) also cratered 20% after reporting record Q4 revenue but issuing guidance deemed too conservative by investors.