Why Lumentum Holdings Stock Leaped More Than 5% Skyward on Wednesday
Investors saw much to like with news coming from, and about, optical and laser technology specialist Lumentum Holdings (NASDAQ: LITE) on Wednesday. They bid the stock up by over 5% on the day, thanks in no small part to the company achieving a new speed benchmark and accompanying this with an update on the potential future of its business.Lumentum and its business partner Keysight Technologies announced that morning that they would together demonstrate their optical technology achieving a speed of 448 gigabytes per second. This was to take place at the annual Optical Fiber Communications Conference. According to the two companies, their collaboration in this tech "addresses the escalating bandwidth demands of artificial intelligence (AI) and machine learning (ML) applications." Such functionalities require considerable computing resources and wider "pipes" in order to transmit effectively. Continue reading
Investors saw much to like with news coming from, and about, optical and laser technology specialist Lumentum Holdings (NASDAQ: LITE) on Wednesday. They bid the stock up by over 5% on the day, thanks in no small part to the company achieving a new speed benchmark and accompanying this with an update on the potential future of its business.
Lumentum and its business partner Keysight Technologies announced that morning that they would together demonstrate their optical technology achieving a speed of 448 gigabytes per second. This was to take place at the annual Optical Fiber Communications Conference.
According to the two companies, their collaboration in this tech "addresses the escalating bandwidth demands of artificial intelligence (AI) and machine learning (ML) applications." Such functionalities require considerable computing resources and wider "pipes" in order to transmit effectively.
