TORONTO, April 22, 2026, 07:20 EDT
POET Technologies bounced hard, with shares closing at $10.25 on Tuesday — up 19.3% from the previous session. Monday saw an 18.3% jump. Investors are shifting focus back to the company’s push in building optical engines for AI networks, brushing aside a recent short-seller report.
This shift is notable since last week’s slump was driven by tax concerns rather than trouble with POET’s products. On April 14, POET announced it would give U.S. investors the materials needed to file a qualified electing fund, or QEF, election—helpful for those facing tax issues tied to passive foreign investment company, or PFIC, status. The board also gave the green light to relocate POET’s headquarters and legal home base to the U.S.
Chief Financial Officer Thomas Mika, in the statement, said POET does not expect to be classified as a PFIC in 2026. If a redomicile is required and needs shareholder sign-off, investors would get their say at the June 26 annual and special meeting. That response gave traders a firmer footing on the main concern raised by Wolfpack Research in its short report.
Fresh comments from management gave the rebound an extra push. On Tuesday, Mika told Stocktwits the PFIC warning amounted to a “big nothing burger.” He also said POET already had a purchase order linked to Marvell Technology, with shipments planned as early as next quarter. As for Foxconn and Luxshare, the company was still waiting for a response. Stocktwits
But the big question remains: are those orders actually materializing? Back in March, Chairman and CEO Suresh Venkatesan called it a “decisive transition from development to execution.” The company pulled in $375 million in recent financings, sat on $430 million in cash, and secured a production order topping $5 million for its Infinity optical engines. Shipment projections for this year: more than 30,000 optical engines. GlobeNewswire
AI data centers are scrambling for speedier optical connections that transmit information as light, not electrons. Marvell wrapped up its buyout of Celestial AI back in February. POET, for its part, said Luxshare is working on designs with its 800G receive engine. Foxconn, according to POET, has shown interest in 800G transmit samples. POET also announced in March it’s expanding collaboration with Lessengers, this time aiming for 1.6-terabit transceivers in AI clusters and at hyperscale sites. As Chief Revenue Officer Raju Kankipati put it, “AI infrastructure is driving rapid increases in optical bandwidth requirements.”
POET’s risk profile isn’t improving. Fourth-quarter revenue landed at just $341,202, with a net loss of $42.7 million. The company also flagged the chance that results might still fall short—product performance, lackluster sales, or operational stumbles could all derail expectations.
Key timing points are coming up. POET and Lessengers aim to have 1.6T module samples ready in the second quarter. POET also expects to kick off mass production of light-source products in that same quarter, with 800G optical engines following in the third. If needed, shareholders could be called to vote on the redomicile plan during the June 26 meeting.
