On June 25, COHERENT rose 3.69% overnight, trading at 405.5 USD/share, with turnover of $661,000. The rebound follows a sharp sell-off earlier in the week, as the optical communication sector regains footing supported by continued fundamental catalysts from the company's indium phosphide expansion project.
On the news front, NVIDIA CEO Jensen Huang previously joined Coherent CEO Jim Anderson at the groundbreaking ceremony for the indium phosphide factory expansion in Sherman, Texas. The project focuses on 6-inch InP wafers and optical interconnect capacity, with post-expansion production area doubling and wafer capacity increasing fourfold. The company also secured a $50 million CHIPS Act subsidy. NVIDIA had previously invested $2 billion in the company and signed a long-term procurement agreement, with institutions projecting an 85% compound annual growth rate for InP demand in AI data centers. The capacity expansion continues to bolster market confidence in the company's industry-leading position.
(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.)
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