Coherent rises after optics tie-up with Nvidia
Shares of optoelectronics firm Coherent COHR.N last up 7.3% at $70.14 on Weds after co announced collaboration with chipmaker titan Nvidia NVDA.O
Saxonburg, Pennsylvania firm late Tues said NVDA tie-up on silicon photonics networking switches to use co-packaged optics (CPO)
The ecosystem will allow artiticial-intelligence factories to connect millions of graphics processing units, COHR added
CEO Jim Anderson said in statement that co expects CPO to further accelerate expansion of optical networking in the data center
COHR shares were in positive territory earlier on Weds. Stock extended gains in afternoon trading amid broader market rally as Fed Chair Powell speaks .N
Despite move on the session, stock down 26% YTD after more than doubling in 2024
AI poster child NVDA kicked off its annual developer conference this week
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