Aeluma is trading at $16.40 (+6.98%) in pre-market after announcing a non-binding Letter of Intent with the U.S. Department of Commerce for up to $30 million in proposed CHIPS and Science Act R&D funding.
- The proposed federal investment is intended to support the company's research and development initiatives for advanced semiconductor technologies.
- The surge coincides with a broader recovery in the semiconductor sector, which is up over 3% in pre-market trading amid strengthening sentiment for AI-related infrastructure spending.