Aeluma is trading 6% up at $16.25 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 funding is intended to support the company's research and development initiatives within the semiconductor space.
- The stock's gains come amid a broader rally in the semiconductor sector, driven by strong large-cap tech earnings and increased investor interest in government-backed R&D projects.