Aeluma Appoints Former NVIDIA Finance Leader Mike Byron to Board of Directors
GOLETA, CA / ACCESSWIRE / February 25, 2025 / Aeluma, Inc. (OTCQB:ALMU), a semiconductor company specializing in high performance, scalable technologies for mobile, automotive, AI, defense and aerospace, communication and quantum computing, today announced the appointment of Mike Byron to its Board of Directors. Byron, an accomplished NVIDIA finance executive with over 30 years of experience, recently retired as Vice President of Finance Operations & Systems at NVIDIA, where he played a key role in the company's growth from a rising GPU innovator to a global semiconductor leader.
'Mike's extensive experience in semiconductor finance and operational strategy comes at a pivotal time for Aeluma as we strive to accelerate growth and scale our technology for broader adoption,' said Jonathan Klamkin, Ph.D., Founder and CEO of Aeluma. 'His tenure at NVIDIA, where he helped navigate one of the most remarkable growth trajectories in the semiconductor industry, will be invaluable as we work to expand our footprint in AI, quantum computing, and defense applications.'
Byron brings deep expertise in financial operations, accounting, and scaling technology companies. He joined NVIDIA in 2002 and held various finance leadership positions over 22 years, most recently serving as Vice President of Finance Operations & Systems and before that as Vice President & Chief Accounting Officer from 2011 to 2019. Prior to NVIDIA, Byron held finance and accounting roles at public technology companies and spent eight years as an auditor at Deloitte. He holds a Bachelor's degree in Business Economics from UC Santa Barbara and became a Certified Public Accountant in 1990. In addition to his corporate leadership, Byron serves as a Trustee of the UC Santa Barbara Foundation and advises the Dean's Investment Group, reflecting his commitment to fostering financial and technological innovation.
'Aeluma is at the forefront of semiconductor innovation, integrating high-performance materials with scalable silicon manufacturing to address the unprecedented demands of AI and quantum computing,' said Byron. 'As computing power requirements surge to enable next-generation AI models and quantum applications, Aeluma's advanced semiconductor solutions are positioned to deliver the performance and scalability these technologies require. I look forward to working with Dr. Klamkin, the leadership team, and the Board to support Aeluma's continued impact on high-performance computing and emerging applications.'
Aeluma continues to gain momentum as a key player in U.S.-based semiconductor innovation, strengthening its advanced manufacturing capabilities and expanding strategic partnerships with NASA, the Department of Defense, and the Department of Energy. By leveraging its proprietary platform, Aeluma is delivering high-performance semiconductor solutions engineered to support the next generation of AI, quantum computing, and advanced computing applications, where scalability and efficiency are more critical than ever.
About Aeluma, Inc.
Aeluma ( www.aeluma.com) develops novel optoelectronics for sensing and communication applications. Aeluma has pioneered a technique to manufacture semiconductor chips using high-performance compound semiconductor materials on large-diameter substrates that are commonly used for mass-market microelectronics. The technology has the potential to enhance performance and scale manufacturing, both of which are critical for emerging applications. Aeluma is developing a streamlined business model from its headquarters in Santa Barbara, California that has a state-of-the-art manufacturing cleanroom. Its transformative semiconductor chip technology may impact a variety of markets including automotive LiDAR, mobile, defense & aerospace, AR/VR, AI, quantum, and communication. Aeluma differentiates itself with unique semiconductor manufacturing capability, proprietary technology, the ability to perform rapid prototyping, and a broad set of product offerings.
Forward-Looking Statements
All statements in this press release that are not historical are forward-looking statements, including, among other things, statements relating to the Company's expectations regarding its market position and market opportunity, expectations and plans as to its product development, manufacturing and sales, and relations with its partners and investors. These statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as 'may,' 'will,' 'could,' 'would,' 'should,' 'anticipate,' 'predict,' 'potential,' 'continue,' 'expect,' 'intend,' 'plan,' 'project,' 'believe,' 'estimate,' and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company's control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.
Aeluma, Inc.
(805) 351-2707
Investor Contact:
Bishop IR
Mike Bishop
(415) 894-9633
SOURCE: Aeluma, Inc.
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Separately, the Wall Street Journal on Tuesday reported that Tesla's top sales executive in North America left the EV maker. Read the full story here. Tesla (TSLA) officially launched in India on Tuesday, making a small bet on a country with massive growth potential, Yahoo Finance's Pras Subramanian reported. Tesla stock was down less than 1% in early afternoon trading. Separately, the Wall Street Journal on Tuesday reported that Tesla's top sales executive in North America left the EV maker. Read the full story here. 30-year Treasury yield rises above 5% for first time in six weeks The 30-year Treasury (^TYX) yield rose 5 basis points to 5.02%, its highest level since May 23, as investors' long-term inflation expectations rose in light of a CPI report that showed prices rising in June. Meanwhile, the 10-year Treasury (^TNX) yield rose 5.2 basis points to 4.5%, its highest level in a month. The Consumer Price Index rose 2.7% over the prior year in June, an uptick from May's 2.4%. The 30-year Treasury (^TYX) yield rose 5 basis points to 5.02%, its highest level since May 23, as investors' long-term inflation expectations rose in light of a CPI report that showed prices rising in June. Meanwhile, the 10-year Treasury (^TNX) yield rose 5.2 basis points to 4.5%, its highest level in a month. The Consumer Price Index rose 2.7% over the prior year in June, an uptick from May's 2.4%. Alibaba, Baidu jump as the Chinese tech firms are 'poised to benefit from Nvidia's return to China' US-listed shares of Alibaba (BABA) and Baidu (BIDU) jumped 6.4% and 7.8%, respectively, on Tuesday following news that Nvidia (NVDA) is set to resume sales of its AI chips to China. CFRA Research analyst Angelo Zino said the two Chinese tech giants, which operate AI cloud services, are "poised to benefit from Nvidia's return to China." "Both companies are aggressively stepping up AI infrastructure build efforts, which we expect to help drive AI spending growth in the region," Zino wrote in an analysis Tuesday. "Access to advanced Nvidia chips is a welcoming sign for Chinese cloud providers." Zino added: "Although we acknowledge that Chinese companies like Huawei are developing their own AI chips, we think domestic brands are inferior to the performance constrained H20 GPUs." US-listed shares of Alibaba (BABA) and Baidu (BIDU) jumped 6.4% and 7.8%, respectively, on Tuesday following news that Nvidia (NVDA) is set to resume sales of its AI chips to China. CFRA Research analyst Angelo Zino said the two Chinese tech giants, which operate AI cloud services, are "poised to benefit from Nvidia's return to China." "Both companies are aggressively stepping up AI infrastructure build efforts, which we expect to help drive AI spending growth in the region," Zino wrote in an analysis Tuesday. "Access to advanced Nvidia chips is a welcoming sign for Chinese cloud providers." Zino added: "Although we acknowledge that Chinese companies like Huawei are developing their own AI chips, we think domestic brands are inferior to the performance constrained H20 GPUs." JPMorgan's Dimon warns against 'playing around with the Fed' as Powell pressure mounts JPMorgan's (JPM) CEO issued a warning that President Trump's intensifying pressure on the Federal Reserve to cut interest rates and replace the central bank's chair, Jerome Powell, could have unintended effects. Yahoo Finance's David Hollerith and Ben Werschkul report: Read the full story here. JPMorgan's (JPM) CEO issued a warning that President Trump's intensifying pressure on the Federal Reserve to cut interest rates and replace the central bank's chair, Jerome Powell, could have unintended effects. Yahoo Finance's David Hollerith and Ben Werschkul report: Read the full story here. MP Materials stock soars after $500 million rare earths deal with Apple US-based rare earth materials miner MP Materials Corp. (MP) saw its stock soar more than 22% Tuesday after announcing a deal with Apple (AAPL). Apple on Tuesday said that it had committed to a $500 million multiyear deal with MP Materials to buy its rare earth magnets for the tech giant's products. The iPhone maker said the deal was part of its effort to build out its US supply chain. Apple has committed to spending over $500 billion in the US to help expand its domestic manufacturing capacity. 'Rare earth materials are essential for making advanced technology, and this partnership will help strengthen the supply of these vital materials here in the United States," Apple CEO Tim Cook said Tuesday. Apple has come under pressure from President Trump, who has threatened the company with 25% tariffs on its overseas-made iPhones. Apple stock rose fractionally on Tuesday morning. US-based rare earth materials miner MP Materials Corp. (MP) saw its stock soar more than 22% Tuesday after announcing a deal with Apple (AAPL). Apple on Tuesday said that it had committed to a $500 million multiyear deal with MP Materials to buy its rare earth magnets for the tech giant's products. The iPhone maker said the deal was part of its effort to build out its US supply chain. Apple has committed to spending over $500 billion in the US to help expand its domestic manufacturing capacity. 'Rare earth materials are essential for making advanced technology, and this partnership will help strengthen the supply of these vital materials here in the United States," Apple CEO Tim Cook said Tuesday. Apple has come under pressure from President Trump, who has threatened the company with 25% tariffs on its overseas-made iPhones. Apple stock rose fractionally on Tuesday morning. Tech leads US stocks higher Tech led stocks higher on Tuesday as chip stocks rose across the board following news that AI chipmaker Nvidia (NVDA) and its rival AMD (AMD) were on track to resume sales of their chips to China. The Nasdaq Composite (^IXIC) jumped 0.7%, while the S&P 500 (^GSPC) rose 0.3%. The Dow Jones Industrial Average (^DJI) fell 0.3%, as a key consumer inflation report showed prices accelerated in June. Meanwhile, big banks' earnings season kicked off with mixed results from JPMorgan (JPM), Citi C) and Wells Fargo (WFC). Shares of Citi rose after better-than-expected earnings, while Wells Fargo fell as the bank cut its full year forecast for net interest income, a key profitability metric. JPMorgan's dealmaking boost in the quarter demonstrated how Wall Street recovered from Trump's most sweeping tariffs in real time but wasn't enough to push the stock higher, with shares falling 1% early Tuesday. Tech led stocks higher on Tuesday as chip stocks rose across the board following news that AI chipmaker Nvidia (NVDA) and its rival AMD (AMD) were on track to resume sales of their chips to China. The Nasdaq Composite (^IXIC) jumped 0.7%, while the S&P 500 (^GSPC) rose 0.3%. The Dow Jones Industrial Average (^DJI) fell 0.3%, as a key consumer inflation report showed prices accelerated in June. Meanwhile, big banks' earnings season kicked off with mixed results from JPMorgan (JPM), Citi C) and Wells Fargo (WFC). Shares of Citi rose after better-than-expected earnings, while Wells Fargo fell as the bank cut its full year forecast for net interest income, a key profitability metric. JPMorgan's dealmaking boost in the quarter demonstrated how Wall Street recovered from Trump's most sweeping tariffs in real time but wasn't enough to push the stock higher, with shares falling 1% early Tuesday. Chip stocks jump, Nvidia eyes fresh record as it looks to resume H20 sales to China Chip stocks climbed Tuesday before the market open after Nvidia (NVDA) and AMD (AMD) said they are planning to resume sales of their AI chips to China after the US government approves them. Nvidia climbed more than 4%, while AMD jumped over 5%. Micron (MU) and Broadcom (AVGO) rose about 2%. US-listed shares of Nvidia and AMD's contract manufacturer, TSMC (TSM), gained more than 2%. Nvidia's gain is set to push the stock to a new record high, boosting the company's market cap further above the $4 trillion mark after cementing its spot as the world's most valuable company in history last week. Read the full story about Nvidia stock's gain on Tuesday here. Chip stocks climbed Tuesday before the market open after Nvidia (NVDA) and AMD (AMD) said they are planning to resume sales of their AI chips to China after the US government approves them. Nvidia climbed more than 4%, while AMD jumped over 5%. Micron (MU) and Broadcom (AVGO) rose about 2%. US-listed shares of Nvidia and AMD's contract manufacturer, TSMC (TSM), gained more than 2%. Nvidia's gain is set to push the stock to a new record high, boosting the company's market cap further above the $4 trillion mark after cementing its spot as the world's most valuable company in history last week. Read the full story about Nvidia stock's gain on Tuesday here. Consumer price increases accelerate in June The latest data from the Bureau of Labor Statistics showed that consumer prices increased 2.7% over the prior year in June, an acceleration from May's 2.4% and above economists' forecast for 2.6%. On a month-over-month basis, prices increased 0.3%, in line with economists' expectations. Prices increased 0.1% on a monthly basis in May by comparison. On a "core" basis, which strips out the more volatile costs of food and gas, prices in June climbed 0.2% over the prior month, ahead of May's 0.1% rise but below consensus projections for a 0.3% increase. Over the last year, core prices rose 2.9%, in line with expectations and above the 2.8% seen the month prior. Read more here. The latest data from the Bureau of Labor Statistics showed that consumer prices increased 2.7% over the prior year in June, an acceleration from May's 2.4% and above economists' forecast for 2.6%. On a month-over-month basis, prices increased 0.3%, in line with economists' expectations. Prices increased 0.1% on a monthly basis in May by comparison. On a "core" basis, which strips out the more volatile costs of food and gas, prices in June climbed 0.2% over the prior month, ahead of May's 0.1% rise but below consensus projections for a 0.3% increase. Over the last year, core prices rose 2.9%, in line with expectations and above the 2.8% seen the month prior. Read more here. Trending tickers premarket: Nvidia, JPMorgan, BlackRock, The Trade Desk Here's a look at the top tickers trending on Yahoo Finance this morning: Check out more trending tickers here. Here's a look at the top tickers trending on Yahoo Finance this morning: Check out more trending tickers here. JPMorgan gets a dealmaking boost as Wall Street recovered from tariff tumult JPMorgan Chase's (JPM) second quarter results came in better than expected on Tuesday, though shares in the bank were lower by less than 1% in premarket trading. Yahoo Finance's David Hollerith reports: Read more here. JPMorgan Chase's (JPM) second quarter results came in better than expected on Tuesday, though shares in the bank were lower by less than 1% in premarket trading. Yahoo Finance's David Hollerith reports: Read more here. Jerome Powell has more housing problems now, including the Fed's For all the talk about the Fed's prolonged challenge to tame the frenzy of the COVID-era housing market, it's the central bank's own headquarters that's drawing intense scrutiny from the White House. But that's just one of the Fed's housing problems, Yahoo Finance's Hamza Shaban reports in today's Morning Brief: Read more here. For all the talk about the Fed's prolonged challenge to tame the frenzy of the COVID-era housing market, it's the central bank's own headquarters that's drawing intense scrutiny from the White House. But that's just one of the Fed's housing problems, Yahoo Finance's Hamza Shaban reports in today's Morning Brief: Read more here. BlackRock assets balloon to over $12 trillion in Q2 BlackRock's (BLK) assets under management surged to top $12 trillion in the second quarter, the first money manager to pass that milestone. Adjusted quarterly profit came in at $1.88 billion, or $12.05 per share, up from $1.55 billion, or $10.36 per share, a year earlier. That compares with an average estimate for $10.78 a share, per a FactSet survey of analysts. Shares in BlackRock slipped 1% in premarket trading as investors parsed its results. Reuters reports: Read more here. BlackRock's (BLK) assets under management surged to top $12 trillion in the second quarter, the first money manager to pass that milestone. Adjusted quarterly profit came in at $1.88 billion, or $12.05 per share, up from $1.55 billion, or $10.36 per share, a year earlier. That compares with an average estimate for $10.78 a share, per a FactSet survey of analysts. Shares in BlackRock slipped 1% in premarket trading as investors parsed its results. Reuters reports: Read more here. Nvidia shares pop as US clears way for AI chip sales to China Nvidia (NVDA) stock is popping in premarket trade after the AI chipmaker got a breakthrough in its China sales logjam. Shares are up 5% after Nvidia said it had secured Trump administration approval to restart deliveries of its China-tailored AI chip. Bloomberg reports: Read more here. Nvidia (NVDA) stock is popping in premarket trade after the AI chipmaker got a breakthrough in its China sales logjam. Shares are up 5% after Nvidia said it had secured Trump administration approval to restart deliveries of its China-tailored AI chip. Bloomberg reports: Read more here. Gold bounces back from early week slip Gold (GC=F) prices rebounded from a mild dip Monday as global tariff talks have failed to offer investors a sense of security, bolstering the value of the haven asset. Bloomberg reports: Bullion rose as much as 0.5% after dropping by a similar amount in the previous session. President Donald Trump said he was open to more talks with major economies including the European Union. But that appeared to be at odds with his insistence that letters to governments setting tariff rates are 'the deals' for trade partners. The precious metal has surged by more than a quarter this year, hitting a record above $3,500 an ounce in April, as the US's aggressive and erratic trade policy enhanced its appeal as a store of value in uncertain times. However, the rally has stalled over the last three months as investors wait for more clarity on the eventual contours of the new trade system, and on signs they're hesitant to buy gold at such elevated levels. 'If trade talks deteriorate before August, we could easily see bullion retest or even breach its former highs,' said Fawad Razaqzada, a market analyst at City Index. 'For now, the market seems firmly in wait-and-see mode, keeping the gold forecast leaning cautiously bullish.' Read more here. Gold (GC=F) prices rebounded from a mild dip Monday as global tariff talks have failed to offer investors a sense of security, bolstering the value of the haven asset. Bloomberg reports: Bullion rose as much as 0.5% after dropping by a similar amount in the previous session. President Donald Trump said he was open to more talks with major economies including the European Union. But that appeared to be at odds with his insistence that letters to governments setting tariff rates are 'the deals' for trade partners. The precious metal has surged by more than a quarter this year, hitting a record above $3,500 an ounce in April, as the US's aggressive and erratic trade policy enhanced its appeal as a store of value in uncertain times. However, the rally has stalled over the last three months as investors wait for more clarity on the eventual contours of the new trade system, and on signs they're hesitant to buy gold at such elevated levels. 'If trade talks deteriorate before August, we could easily see bullion retest or even breach its former highs,' said Fawad Razaqzada, a market analyst at City Index. 'For now, the market seems firmly in wait-and-see mode, keeping the gold forecast leaning cautiously bullish.' Read more here.
