Nvidia to invest $2 billion each in Lumentum, Coherent to bolster AI processors
Nvidia will invest $2 billion each in photonic product makers Lumentum and Coherent, as it looks to bolster its data center chips with technology that can better cater to the growing need for faster AI processors.
Shares of Lumentum were up 5%, while Coherent rose 9% in early trading after the announcement on Monday.
At its most recent earnings conference, Nvidia executives said the company would use its large cash reserve to invest in the AI ecosystem and help boost the output of models.
