Coherent Corp Secures $50 Million CHIPS Act Funding to Expand US Semiconductor Production

Coherent Corp signed a letter of intent with the U.S. Commerce Department to receive up to $50 million from the CHIPS and Science Act. This funding will support the expansion of its 6-inch Indium Phosphide semiconductor manufacturing facility in Sherman, Texas, which is the world's largest high-volume 150mm (6-inch) Indium Phosphide facility. The expansion aims to double production space, quadruple wafer capacity, and create over 1,000 jobs, bolstering the U.S. semiconductor supply chain and supporting AI data center technologies.