Finisar Corp is getting a $390 million investment from Apple Inc to revive a plant in Texas, which will boost production of chips that power high-profile iPhone X features including Face ID and portrait mode photos.
Shares of Finisar, a Sunnyvale, California-based optical components maker, rose more than 30 percent to $25.41 on Wednesday morning.
Finisar will use the money to reopen a 700,000-square-foot plant in Sherman, Texas to ramp up production of laser chips called vertical-cavity surface-emitting lasers, or VCSELs.
