When light from a laser is fully absorbed by an ideal detector, the detected current exhibits a fluctuation called here "photonic noise." The spectral density of intensity noise, defined as the difference of the photonic-noise spectral density and a term corresponding to the shot-noise level, is negative for sub-Poissonian statistics. The usefulness of the relative-intensity-noise concept is that it is independent of any linear attenuation. A simple circuit theory of intensity noise based only on energy conservation and the Nyquist formula (zero-point fluctuation) leads to expressions of the spectral densities that agree with quantum theory even for sub-Poissonian photon statistics. When the optical gain and loss are frequency independent, the circuit theory reduces to a corpuscular theory that keeps track of the time rates of change of electron and photon numbers treated as continuous variables. Consideration is given to laser diodes in which the rate of electron-photon conversion depends nonlinearly on both the carrier and photon densities. The cross-spectral density between electrical-voltage and relative photonic fluctuations is independent of internal or external optical losses. Standard rate equations are inaccurate in the case of gain compression. Very general yet simple formulas for intensity noise are applied to room-temperature GaAs laser diodes, using recently calculated optical parameters.