Coherent rises after optics tie-up with Nvidia

Coherent

19/03/2025 19:31

** 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

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))