SHERMAN (AP) – Apple is investing $390 million in Finisar, a company that makes lasers used in facial recognition technology.
It’s the latest investment from Apple’s $1 billion Advanced Manufacturing Fund, created to finance the work of domestic manufacturers and create jobs in the U.S.READ MORE: Lawlessness Once Reigned On 'Hell's Half Acre' In Downtown Fort Worth
Apple said Wednesday that the investment will allow Finisar to boost production of vertical-cavity surface-emitting lasers, which Apple uses for Face ID, Animoji and Portrait mode selfies with the iPhone X TrueDepth camera and the proximity-sensing capabilities of AirPods.READ MORE: Frisco ISD Parents Protest Proposed Rezoning Of Some High Schools In Effort To Relieve Growth
Finisar will open a manufacturing plant in Sherman, Texas, about an hour north of Dallas, creating more than 500 jobs. Finisar runs a plant in Allen, just outside of Dallas.
Shares of Finisar jumped 19 percent before the opening bell.MORE NEWS: Bomb Cyclone Off Pacific-Northwest Had The Pressure Of A Category 4 Hurricane
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