Lumentum Holdings Inc. shares rise 2.93% intraday after announcing a major U.S. manufacturing expansion for AI-driven components.

Lumentum Holdings Inc. rose 2.93% in intraday trading, with the company announcing a significant milestone in its commitment to innovation and U.S.-based manufacturing. The company will fund a major capacity expansion of its U.S.-based semiconductor facility, which is expected to generate additional high-skilled engineering and manufacturing jobs, further strengthening the U.S. position in the global AI supply chain. Lumentum is a primary supplier of ultra-high-power (UHP) lasers, essential components in Co-Packaged Optics (CPO) platforms.