Coherent (NYSE:COHR) up 9% as AI optics squeeze takes focus, not grant size
Coherent Corp. rallied 9.2% on Monday, closing at $425.38. The move brought the photonics supplier near its 52-week high as the AI trade continued to reward stocks tied to data transfer as well as compute. Trading volume reached 7.03 million shares, matching the 65-day average, so this wasn’t a light post-holiday session. Coherent’s latest rally picked up after the NYSE reopened following Friday’s Juneteenth market holiday. The bigger story is capacity for indium phosphide, or InP. It’s a compound semiconductor that makes high-speed optical chips for moving data with light in AI data centers. The NYSE lists June 19 as the 2026 Juneteenth market holiday.