Patently Apple posted a report in May titled "Apple Awards Corning First Investment from their Advanced Manufacturing Fund as Promised," followed by another in July titled "Three Big, Big, Big U.S. Apple Plants are on the Drawing Board."

Today we're learning about another investment from Apple's "Advanced Manufacturing Fund." Accordint to Reuters, "Apple Inc said on Wednesday it would invest $390 million in Finisar Corp, which it will use to build out a plant in Texas to make chips that power popular iPhone features such as face ID, Animojis and portrait-mode selfies.

The award will be part of Apple's $1 billion "Advanced Manufacturing Fund" to foster innovation and create jobs, Apple said in a statement.

Finisar will use the funds to transform a shuttered, 700,000-square-foot manufacturing plant in Texas to a facility developing vertical-cavity surface-emitting laser (VCSEL) chips."

In June Patently Apple posted a report titled "Some of Apple's new 'iPhone X' suppliers have been identified associated with Technologies like 3D Sensing & more." In that report we noted that two of the interesting new suppliers are reportedly 'Lumentum' and 'Finisar' that will supply Apple with their next-gen 3D sensing that could be used with Apple's upcoming Augmented Reality capabilities and more.

Lumentum has been getting all of the attention in the press by being pumped by Gene Munster's Loup Venture and CNBC who reported on Monday that Lumentum was a buy on the stock market because of it's link to Apple. Whether Apple's investment in Finisar will dampen enthusiasm for Lumentum stock is unknown at this time.

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