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Tag: NASD:POET

  • POET Technologies Experiences Surge After Announcing Equity Offering

    POET Technologies Experiences Surge After Announcing Equity Offering

    POET Technologies Inc. (NASDAQ: POET) saw a significant stock rise of 19.06% to conclude the Tuesday session at $5.06. This positive US stock market response followed an announcement of a registered direct offering aimed at raising substantial capital for strategic initiatives.

    Equity Offering Details

    POET Technologies declared plans to issue warrants for 5,555,556 common shares as well as 2,777,778 shares. The transaction, which is anticipated to generate $25 million in gross revenues at a price of $4.50 per unit, includes one common share and a half-share warrant.

    Expansion into Malaysia and Strategic Moves in China

    Significant progress in increasing its production capacity was also disclosed by POET Technologies, signing a legally binding Memorandum of Understanding (MOU). It was inked with Quanzhou Sanan Optical Communication Technology Co., Ltd. (SAIC) for the acquisition of SAIC’s 24.8% stake in the joint venture Super Photonics Xiamen (SPX). POET now has total control of SPX and the associated manufacturing equipment, in line with its “China Plus One” strategy.

    In order to expand its worldwide production network, the business is moving wafer-scale assembly activities outside of China. Contract manufacturers in Malaysia are being negotiated with; agreements should be finished by the end of the month, and operations should start by the end of the year.

    Boosting Capacity to Meet AI Network Demands

    POET’s expansion plan includes integrating wafer-scale assembly equipment to bolster production capacity for its 800G optical engines. This move positions the company to meet the growing demands of AI-driven networks through 2026. With an annual assembly and testing capacity exceeding one million optical engines, POET is well-poised to support its customers’ requirements for high-speed transceivers.

    The transformation of SPX into a wholly owned subsidiary under the POET banner underscores the company’s commitment to growth and innovation, paving the way for broader market opportunities. Definitive agreements for the SPX acquisition are expected by late November.

  • POET Technologies Rides Stock Momentum After Crucial Partnership

    POET Technologies Rides Stock Momentum After Crucial Partnership

    POET Technologies Inc. (NASDAQ: POET) has witnessed a significant rally in its stock prices, which began late last week. As of the most recent reports, POET’s shares rose by 13.38%, trading at $3.56 on US stock exchanges. This surge is attributed to a pivotal collaboration agreement with Mitsubishi Electric Corporation.

    POET To Jointly Develop Optical Engine Chipsets

    POET Technologies entered into a partnership with Mitsubishi Electric to co-develop integrated optical engine chipsets, specifically designed for 3.2T pluggable transceivers. These transceivers are increasingly in demand within the burgeoning artificial intelligence networking sector. The collaboration entails joint product demonstrations aimed at major customers, highlighting the strategic alignment between the two companies.

    Technological Advancements

    Mitsubishi Electric is committed to providing technological advantages that reinforce its customers’ competitive edge within their respective industries. Through this partnership, POET’s optical engines will facilitate the development of innovative products that achieve a sophisticated integration of indium phosphide (InP) and silicon-based interposer technologies. This advancement is poised to propel the evolution of data networking, particularly for AI applications and hyperscale data centers.

    Projected Outcomes and Market Implications

    Mitsubishi Electric will contribute its advanced 400G Electro-absorption Modulator integrated Lasers (EMLs) to this initiative. Leveraging its optical interposer platform technology, POET will integrate these EMLs with drivers, optical waveguides, and other critical components to create 1.6T and 3.2T optical engine chipsets.

    The demand for a pluggable transceiver solution capable of supporting 3.2T speeds is on the rise, and POET’s optical interposer represents one of the few technologies capable of delivering such performance. Both companies anticipate completing the 1.6T and 3.2T optical engine chipsets by early 2025, with plans to showcase their innovations in the first half of that year.

    This collaboration marks a significant step forward for POET Technologies as its products gain traction in the industry, reinforcing the company’s commitment to enhancing power efficiency and cost savings for its clientele.