On June 18, Coherent rose 3.2% in pre-market trading, trading at approximately $390.63/share, with turnover of $1.4315 million.

On the news front, NVIDIA CEO Jensen Huang and Coherent CEO Jim Anderson jointly attended the groundbreaking ceremony for the expansion of the indium phosphide semiconductor manufacturing facility in Sherman, Texas. The project focuses on 6-inch InP wafer and optical interconnect capacity, with production area set to double and wafer capacity to increase fourfold upon completion. Simultaneously, Coherent announced it has signed a preliminary agreement with the U.S. Department of Commerce to receive up to $50 million in dedicated funding under the CHIPS and Science Act, earmarked for equipment upgrades and capacity expansion.

Strategically, NVIDIA has previously invested $2 billion in Coherent and signed a long-term procurement agreement. As the world's first manufacturer capable of mass-producing 6-inch InP wafers, the expansion further solidifies Coherent's leadership position. Institutions project AI data center demand for indium phosphide will grow at an 85% compound annual rate, underpinning the company's long-term growth thesis.

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