Aeluma Shares Rise After Photonics Manufacturing Agreement with Sumitomo Chemical
Aeluma (NASDAQ:ALMU) shares increased by 7% in premarket trading following an agreement to jointly develop and manufacture photonics wafers for AI data communications applications. The partnership involves using existing infrastructure at a facility in Phoenix, Arizona, operated by Sumitomo Chemical Advanced Technologies. This collaboration builds on prior work through U.S. government contracts between the two companies. While financial terms or production details were not disclosed, the agreement includes potential future capacity expansion provisions. Aeluma is set to release its Q4 and full-year 2026 results on September 16.
Tickers: $ALMU
Topics: artificial intelligence (AI) joint development agreement manufacturing partnership photonics