Apple (AAPL) Awards Finisar (FNSR) $390M From Advanced Manufacturing Fund

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Apple Awards Finisar $390 Million From Its Advanced Manufacturing Fund

December 13, 2017 6:00 AM EST

Award Will Create 500 High-Skill Jobs at Sherman, Texas Facility

SHERMAN, Texas--(BUSINESS WIRE)-- Apple® today announced the latest award from its $1 billion Advanced Manufacturing Fund. Finisar, a leading manufacturer of optical communications components, will receive $390 million as part of Apples commitment to support innovation and job creation by American manufacturers.

The award will enable Finisar to exponentially increase its R&D spending and high-volume production of vertical-cavity surface-emitting lasers (VCSELs). VCSELs power some of Apples most popular new features, including Face ID®, Animoji and Portrait mode selfies made possible with the iPhone® X TrueDepth... More