Aeluma is trading 11% up at $18.50 in pre-market, extending a multi-day rally after signing a Letter of Intent with the U.S. Department of Commerce for up to $30 million in CHIPS and Science Act R&D funding.
- The proposed government support is intended to bolster the company's research and development capabilities under the CHIPS and Science Act.
- Market sentiment is also being lifted by a broader semiconductor sector rally as investors look ahead to key industry earnings reports.