NEW YORK, June 3, 2026, 16:06 EDT
POET Technologies Inc. climbed roughly 12% late Wednesday on Nasdaq, recovering some ground after tumbling in April over a dropped order connected to Marvell. The AI-photonics stock was last at $15.47, up $1.65, and briefly reached $15.81. Volume was about 47.1 million shares.
POET is now trading as a volatile stand-in for optical link demand in AI data centers. The company says its Optical Interposer tech puts photonic and electronic parts together in a chip-scale package—using light instead of just electric signals to move data. POET Technologies
POET is leaning on promises, not results so far. The company posted Q1 revenue of $503,389 and a net loss of $12.3 million. POET is highlighting a Lumilens supply deal with an initial $50 million order that it says could top $500 million across five years. POET Technologies
Fresh legal moves kept risk in play. Faruqi & Faruqi said investors have until June 29 to file for lead-plaintiff in a securities class action tied to purchases between April 1 and 8:57 a.m. ET on April 27. These are still just allegations. TMX Newsfile
Kessler Topaz Meltzer & Check says the complaint was filed in U.S. District Court in New Jersey as Christopher Jones v. POET Technologies Inc., case No. 3:26-cv-04717. The suit alleges POET and some officers made false or misleading statements or left out key information about tax status and deals with customer confidentiality. KTMc
PFIC status, or passive foreign investment company, is a U.S. tax classification that can bring more tax and reporting headaches for American investors. In a prospectus supplement from May, POET said it expects to fall under PFIC rules for 2025. The company added it could also be classified as a PFIC for this year or future years, depending on things like income, assets and market value.
POET’s litigation came after its April 27 disclosure. The company said that Celestial AI canceled purchase orders when Marvell Semiconductor, which bought Celestial AI, gave notice in writing on April 23. Marvell cited breaches of confidentiality over purchase-order and shipping info. POET said it is still focused on other deliveries, including an order worth around $5 million. SEC
Bulls are now looking at Lumilens and higher scale-up spending. Lumilens CEO Ankur Singla said GPU interconnects were the “defining bottleneck for scaling AI.” POET CEO Suresh Venkatesan said the joint platform aims to bring “semiconductor-style manufacturing discipline” to optical engines. POET Technologies
POET said on May 18 it closed a $400,000,020 raise through selling about 19.05 million common shares and warrants, which let buyers pick up more shares later at a preset price. The money is aimed at ramping up. CEO Venkatesan said the company is increasing wafer production and optical engine assembly capacity “roughly ten-fold” to support higher manufacturing volumes into 2027. POET Technologies
Lisa Thompson at Zacks Small-Cap Research said in a sponsored note June 1 that POET “could be worth $17.50 per share” but pointed to a high risk for the stock. Thompson focused on projected manufacturing scale, more cash, and a 2029 revenue target that has not been reached yet.
Competitive names traded mixed on the day. Marvell, which has ties to POET via the scrapped Celestial AI orders, gained around 3.8%. Broadcom was up less than 1%. Lumentum was down roughly 8.1%. The action shows AI networking and optical-parts plays are still seeing wide moves, but not in lockstep.
But there’s not much margin for error on the trade. POET and Lumilens warned that orders and revenue are tied to getting through development, qualification, and ramping up manufacturing. POET still runs at a loss, and the class action keeps disclosure issues front and center. If qualification runs late, a key customer drops out, or legal risk gets worse, Wednesday’s pop could unwind quickly. POET Technologies
