Aeluma (ALMU) has executed an agreement with Sumitomo Chemical Advanced Technologies to develop and produce photonics wafers for the artificial intelligence market, the company said Tuesday.
Financial terms were not disclosed.
The agreement is meant to use metalorganic chemical vapor deposition capabilities at Sumitomo's Phoenix, Arizona, facility, Aeluma said.
Shares of Aeluma were up 7.2% in recent premarket activity.
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