POET Technologies Provides Purchase Order Update
Rhea-AI Summary
POET Technologies announced that Marvell Semiconductor Inc., which acquired Celestial AI, provided written notice on April 23, 2026 that it was cancelling all purchase orders POET had received from Celestial AI, including initial production-unit orders first disclosed on April 25, 2023. Marvell cited alleged disclosures of order and shipping information as breaching confidentiality obligations. POET said it remains focused on executing strategic priorities and advancing product development for AI and optical networking markets, and noted a separate recently disclosed purchase order from another technology company worth approximately $5 million.
Positive
- Transparent public disclosure of the cancellation and its timing
- Clear statement of continued strategic focus on AI and optical networking
- Existence of another purchase order valued at approximately $5 million
- Ongoing product development and pursuit of other customer deliveries
Negative
- All purchase orders from Celestial AI were cancelled
- Allegation that POET disclosed confidential order and shipping information
- Potential revenue loss and increased customer concentration risk
- Possible reputational and contract compliance concerns
News Market Reaction – POET
On the day this news was published, POET declined 47.35%, reflecting a significant negative market reaction. Argus tracked a peak move of +5.9% during that session. Argus tracked a trough of -57.3% from its starting point during tracking. Our momentum scanner triggered 162 alerts that day, indicating very high trading interest and price volatility. This price movement removed approximately $2.07B from the company's valuation, bringing the market cap to $2.31B at that time. Trading volume was exceptionally heavy at 6.8x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
POET gained 28.84%, far outpacing semiconductor peers like SKYT (0.36%), CEVA (12.85%), LAES (2.08%), AIP (6.88%), and NVEC (3.79%). This points to a stock-specific move rather than a broad sector rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 14 | Tax status update | Positive | +3.9% | Clarified PFIC status and potential U.S. redomiciling plans for shareholders. |
| Mar 31 | Earnings and funding | Neutral | -5.7% | Reported Q4 loss, modest revenue, large cash balance after equity financings. |
| Mar 17 | AI partnership | Positive | -4.9% | Expanded Lessengers collaboration on 1.6T 2×DR4 optical transceiver for AI networks. |
| Mar 16 | AI collaboration | Positive | +0.7% | Joint development with LITEON on next-gen optical modules for AI data centers. |
| Mar 10 | Product demonstrations | Positive | +4.6% | Announced OFC demos of Blazar and Starlight external light source products. |
Recent AI and partnership announcements were generally positive but produced mixed price reactions, with one notable divergence on good news.
In recent months, POET reported a net loss of $42.7M on Q4 2025 revenue of $341,202, while raising $375M and ending with $430M in cash. The company highlighted a production order exceeding $5M and plans to ship more than 30,000 optical engines in 2026. Multiple AI-focused partnerships and product demonstrations with Lessengers and LITEON, plus OFC conference showcases, underscored a shift from development to execution. Today’s cancellation of Celestial AI-related purchase orders contrasts with this earlier growth and partnership narrative.
Market Pulse Summary
The stock dropped -47.4% in the session following this news. A negative reaction despite POET’s broader AI positioning would fit a pattern where individual events can outweigh the longer-term narrative. The loss of all Celestial AI purchase orders directly offsets earlier emphasis on production orders, even as the company still points to a approximately $5 million order from another customer. With shares previously well above the $6.33 200-day MA and heavy volume of 77,045,480, any sharp decline could reflect reassessment of revenue visibility and customer concentration.
Key Terms
optical engines technical
light sources technical
confidentiality obligations regulatory
AI-generated analysis. Not financial advice.
SAN JOSE, Calif., April 27, 2026 (GLOBE NEWSWIRE) -- POET Technologies Inc. ("POET" or the "Company") (NASDAQ: POET), a leader in the design and implementation of highly-integrated optical engines and light sources for artificial intelligence networks, today announced the cancellation of all purchase orders received by the Company from Celestial AI, including the ones for initial production units first disclosed (the "Purchase Orders") by the Company in a press release on April 25, 2023. Marvell Semiconductor Inc., which acquired Celestial AI, provided written notice of the cancellation to the Company on April 23, 2026. As the basis for the cancellation, Marvell indicated that the Company had made disclosures of information related to the Purchase Order and shipping information in contravention of its confidentiality obligations.
The Company remains focused on executing its strategic priorities and advancing product development within the AI and optical networking markets to meet increasing demand. This effort also involves fulfilling product deliveries for other customers, including a recently disclosed purchase order with another technology company with a value of approximately
About POET Technologies Inc.
POET Technologies is a design and development company offering high-speed optical engines, light source products, and custom optical modules for the artificial intelligence systems market and hyperscale data centers. Its patented POET Optical Interposer™ platform enables seamless chip-scale integration of photonic and electronic devices using advanced semiconductor manufacturing techniques. More information about POET is available on our website at www.poet-technologies.com.
| Media Relations Contact: Adrian Brijbassi Adrian.brijbassi@poet.tech | Company Contact: Tom Mika, EVP and CFO tm@poet.tech |
Forward-Looking Statements
This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements or information include the Company’s expectations regarding delivery of products under existing purchaser orders, demand for the Company’s products, the Company's product development efforts, the performance of its products, the expected results of its operations, meeting revenue targets, and the expectation of continued success in financing efforts, the capability, functionality, performance and cost of the Company’s technology as well as the market acceptance, inclusion and timing of the Company’s technology in current and future products.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those expressed in or implied by such forward-looking statements or information.. Assumptions have been made regarding, among other things, future growth, recruitment of personnel, plans for and completion of projects by the Company’s consultants, contractors and partners, availability of capital, and the necessity to incur capital and other expenditures, and such assumptions may prove to be incorrect. Actual results could differ materially due to a number of factors, including, without limitation, any possible ability of the Company to re-establish its relationship with Marvell Semiconductors and to secure future product orders from Marvell; the ability of the Company to satisfy its obligations under existing purchase orders; the failure of its products to meet performance requirements; increases, decreases, cancellations or delays in purchase orders already in place without significant penalty to the counterparty; failure to receive future purchase orders; lack of sales in its products, once released; operational risks in the completion of the Company’s anticipated projects; risks affecting the Company’s ability to execute projects; the ability of the Company to generate sales for its products; the ability to attract key personnel; the ability to raise additional capital and other risks and uncertainties discussed in the Company’s filings on SEDAR+ and with the U.S. Securities and Exchange Commission, including under the caption “Risk Factors” in such filings. Prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
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