The investment will be used to build a plant in Texas to make more of the chips, and will be financed by Apple's $1 billion Advanced Manufacturing fund, which the company created in 2017 to foster innovation and create jobs in the U.S.
"VCSELs power some of the most sophisticated technology we've ever developed and we're thrilled to partner with Finisar over the next several years to push the boundaries of VCSEL technology and the applications they enable," said Jeff Williams, Apple's chief operating officer. "Technology is only as good as the people behind it, and Finisar is a company with a long history of putting its employees first and supporting the community it's a part of. We're extremely proud that our involvement will help transform another American community into a manufacturing powerhouse."According to Apple's statement, the award will enable Finisar to exponentially increase its R&D spending and high-volume production of VCSELs, which power some of the iPhone's X flagship features, such Face ID®, Animoji and Portrait mode selfies, as well as the proximity-sensing capabilities of AirPods.
"We're excited to continue our innovation with Apple of a technology that has tremendous potential," said Jerry S. Rawls, CEO of Finisar. "When you combine our proven ability to consistently manufacture exceptional products with our new state-of-the-art Sherman facility, we're confident we can achieve our shared goal of providing consumers with incredibly exciting features. Finisar has always been keenly aware it takes great people to power our work and that's why we're thrilled to be adding Sherman to our family."
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