Finisar has clarified that the $390M contribution from Apple’s Advanced Manufacturing Fund announced yesterday is not an investment in the company, but rather an agreed payment for anticipated future orders. The company makes vertical-cavity surface-emitting lasers (VCSELs), which are a key part of the Face ID system used in the iPhone X, as well as enabling Animoji.
As with the $200M Corning deal earlier in the year, the $390M commitment isn’t an altruistic gesture on Apple’s part …
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