2023-06-22 03:40:50 ET
Applied Optoelectronics ( NASDAQ: AAOI ) said Wednesday it entered into a supply agreement with Microsoft ( MSFT ), under which it will provide certain design and assembly services of goods in accordance with Microsoft's ( MSFT ) specifications.
Shares of Applied Optoelectronics ( AAOI ), which ended 19.9% lower on Wednesday, climbed 11% in afterhours trading.
The company will build the supply chain to manufacture, assemble, sell, and ship the goods to Microsoft ( MSFT ) or an authorized purchasing entity.
The initial term of the agreement is five years, with automatic renewal unless terminated earlier.
Source: Form 8-K filing
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Applied Optoelectronics inks supply deal with Microsoft