Billionaire Rob Citrone Adds Coherent Corp. to Portfolio

Coherent Corp. (NYSE:COHR) is a recent addition to Discovery Capital Management's portfolio. The company develops engineered materials, optoelectronic components and devices, and laser systems for the industrial, communications, electronics, and instrumentation markets. Coherent has emerged as an AI powerhouse, especially in mega deals with NVIDIA, and is currently ramping up production of 1.6T transceivers, which offer higher margins than older models. The company reported Q2 revenue of $1.69 billion, up 17% year-on-year, driven by the Datacenter & Communications segment.