NEW YORK, June 1, 2026, 15:02 EDT
- POET traded up roughly 16.7% to $14.34 on the Nasdaq in afternoon action, with more than 36 million shares moving.
- Several law firms put out new notices about the June 29 lead-plaintiff deadline in a securities case linked to the sharp selloff in April.
- The bull case for the company is still tied to its AI data-center optical business, the $50 million Lumilens order, and the $400 million financing it announced in May.
POET Technologies Inc. shares jumped Monday, with the Canadian photonics stock stretching a volatile streak as investors balanced more class-action reminders against the company’s expansion into AI data-center hardware.
Shares on the Nasdaq climbed $2.05, or 16.7%, to $14.34. The stock moved between $11.65 and $14.42. Over 36 million shares had traded by midafternoon.
POET is getting attention after an April drop wiped out shares. Marvell Semiconductor scrapped all of Celestial AI’s POET orders right after it bought Celestial AI. According to POET, Marvell said disclosures about orders and shipping broke its confidentiality rules.
Schall Law Firm on Monday put out a new reminder about a securities lawsuit and set June 29 as the deadline for POET shareholders who bought between April 1 and April 27 to seek a lead-plaintiff spot. The class isn’t certified yet, the firm said.
POET’s stock is dealing with more than just the recent legal notices. The company is pitching its optical-interposer platform to investors, saying the technology — which combines electronic and photonic components in a small chip package — is a fit for artificial-intelligence data centers. That’s where faster chip-to-server connections are becoming a bigger deal.
POET and Lumilens agreed in May to a supply and joint-development deal with a first $50 million purchase order for electrical-optical interposer engines. “GPU interconnects are emerging as the defining bottleneck” for AI scaling, said Lumilens CEO Ankur Singla. POET Technologies
POET Chairman and CEO Suresh Venkatesan said in the first-quarter report that POET is seeing “significant progress” in AI and hyperscale data-center markets, pointing to partnerships with LITEON, Lessengers and Lumilens. First-quarter revenue climbed to $503,389 from $166,760 in the same period last year. The company reported a net loss of $12.3 million, or 8 cents a share. POET Technologies
POET raised $400 million in May in a registered direct offering, selling shares and warrants to a single institutional investor. The company said it will spend the cash on manufacturing expansion, corporate development, R&D, light-source products, operations, and working capital.
AI chip stocks saw mixed action in competitive trading, but most names held up. Marvell, which was the counterparty on the canceled Celestial AI deal, gained about 9.0%. Lumentum added 6.6%. Coherent lost 0.4%. The VanEck Semiconductor ETF, which covers the sector, moved up 1.9%.
POET has been working to get rid of a tax overhang for U.S. holders. In April, Chief Financial Officer Thomas Mika said the company didn’t expect to qualify as a passive foreign investment company, or PFIC, in 2026. PFIC status can trigger harsh U.S. tax bills for some investors. POET said its board wants to move the company’s headquarters and legal home to the U.S., pending process.
But the risk is hard to miss. POET’s run relies on converting those development deals and orders into actual qualified products, real manufacturing scale and revenue. Legal claims, potential dilution from warrants, or more trouble with customers could bring back the governance worries that hit shares in April. The company has also said that filling the Lumilens orders depends on getting the modules developed, qualified, and ramping up manufacturing.
