US Stock Market Movers | Coherent's pre-market surge exceeds 4% as Texas factory expansion begins, boosting indium phosphide production line

Glonghui, June 17 — Leading optical communications company Coherent surged over 4% in pre-market trading, reaching a high of $398.4; as of press time, the gain narrowed to 2.4%, with the stock trading at $392. On June 16, Coherent held a groundbreaking ceremony for its new plant in Sherman, Texas, officially launching the expansion of its manufacturing base. NVIDIA founder and CEO Jensen Huang attended the event alongside Coherent CEO Jim Anderson. Both parties reiterated the critical role of optical interconnection in AI infrastructure. This expansion aims to increase production capacity for 6-inch indium phosphide (InP) wafers, providing key manufacturing support for high-speed optical communication devices. In addition, the company announced it has signed a letter of intent to receive up to $50 million in direct funding from the U.S. Department of Commerce under the CHIPS and Science Act, to support the manufacturing base expansion.