Apple Awards $390 Million to FaceID Tech Company Finisar
December 13 2017 - 6:55AM
Dow Jones News
By Cara Lombardo
Apple Inc. (AAPL) on Wednesday said it awarded $390 million to
Finisar Corp. (FNSR), which produces technology used in Apple's
facial-recognition.
The award, from Apple's Advanced Manufacturing Fund, will allow
Finisar to increase research and development and production of its
vertical-cavity surface-emitting lasers, or VCSELs. Finisar is
Apple's second-largest supplier of VCSELs, which are used in
several of Apple's new features on the iPhone X, including Portrait
mode selfies, Apple said.
The news sent Finisar shares up 17% premarket.
Finisar last week said it had started shipping production
quantities of the VCSELs. The device is critical to the Apple's
FaceID recognition system, providing the 3D sensing capabilities
that detect a face. Finisar plans a 700,000-square-foot production
facility in Texas to produce VCSEL arrays.
Apple has said it will spend its $1 billion Advanced
Manufacturing Fund investing in innovative production at domestic
companies. Corning Inc. (GLW) received $200 million from the fund
in May to expand high-tech glass processing, which was the fund's
first award.
Write to Cara Lombardo at cara.lombardo@wsj.com
(END) Dow Jones Newswires
December 13, 2017 06:40 ET (11:40 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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