We report the measurement of the fourth cumulant of current fluctuations in a tunnel junction under both dc and ac (microwave) excitation. This probes the non-Gaussian character of photo-assisted shot noise. Our measurement reveals the existence of correlations between noise power measured at two different frequencies, which corresponds to two-mode intensity correlations in optics. We observe positive correlations, i.e. photon bunching, which exist only for certain relations between the excitation frequency and the two detection frequencies, depending on the dc bias of the sample.
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