Coherent (NYSE:COHR) up 9% as AI optics squeeze takes focus, not grant size
Coherent surged 9.2% to $425.38 after securing a CHIPS Act letter for up to $50 million to double and quadruple indium phosphide wafer capacity in Texas, as China’s tighter indium export checks spotlight U.S. supply-chain risks for AI data centers; shares are up 130% YTD but trade at a P/E above 200, with Nvidia as a key customer.