Flex Ltd (FLEX.US) shares surged nearly 8% on Thursday, closing at $143.82.
The significant move follows an announcement on July 9th regarding an expanded manufacturing partnership. The company, in collaboration with Cerebras Systems Inc., will add new production lines at its facility in Milpitas, California. This expansion is designed to support a sevenfold increase in the production capacity of the Cerebras CS-3, one of the world's most advanced AI accelerator systems. The move is a direct response to the accelerating global demand for high-performance artificial intelligence infrastructure.
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