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Coherent shares slide despite strong earnings and new AI silicon deal

The company reported strong earnings but its stock fell around 12%, even as it announced a 300mm silicon carbide substrate initiative for AI chip thermal management backed by $1 billion from Denso and Mitsubishi Electric.

Reported · Written up by our desk · Previews

Coherent shares fell about 12% even though the company posted strong earnings, highlighting how investors weighed the results against other developments, MarketBeat Ratings reported.

Alongside the earnings, Coherent said it is moving into a new 300mm silicon carbide substrate effort aimed at AI chip thermal management.

The initiative is backed by $1 billion, with support from Denso and Mitsubishi Electric, according to the report.

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