Poet Technologies Inc (POET)

[prototype_101]

POET and Mitsubishi Electric Collaborate to Develop 3.2T Optical Engines for AI Networks
September 19, 2024 07:35 ET
| Source: POET Technologies Inc.

TORONTO, Sept. 19, 2024 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer™, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and AI markets, today announced it has entered into a collaboration with Mitsubishi Electric Corporation (“Mitsubishi Electric”) to co-develop integrated optical engine chipsets for 3.2T pluggable transceivers, a highly sought-after product for optical connectivity in the rapidly growing artificial intelligence networking market. POET and Mitsubishi Electric will jointly support product demonstrations with major customers.

“Mitsubishi Electric is committed to ensuring we give our customers the technological advantage to maintain their positions as industry leaders in their own sectors. We believe POET’s optical engines will open the possibility of creating new products where electronics photonics convergence is successfully achieved at an advanced level of integration between InP and Si-based interposer, which take us and our valued customers into the next generation of data networking for AI and hyperscale data centers,” says Yasuhiro Yamauchi, General Manager, Optical Device Department at Mitsubishi Electric. “This promises to be a momentous technological achievement when it is unveiled.”

Mitsubishi Electric will contribute its highly differentiated 400G Electro-absorption Modulator integrated Lasers (EMLs) to the project. Using its optical interposer platform technology, POET will integrate the EMLs along with drivers, optical waveguides, and other key functional building blocks to produce 1.6T and 3.2T optical engine chipsets.

“The AI and datacom networks need a pluggable transceiver solution for 3.2T and POET’s optical interposer is one of the few technologies that can achieve that performance. When our Mitsubishi Electric colleagues understood the full functionality of the optical interposer and its potential to optimize the performance of their leading-edge lasers, they knew that we offered the right solution for their needs,” says Dr. Suresh Venkatesan, POET Chairman and CEO. “It’s further validation that what we have worked so hard to achieve over these past five years is coming true. POET’s products are steadily being adopted by the industry and we expect demand to accelerate as our customers gain further understanding of the power efficiency and cost savings that we offer to them and their customers.”

POET and Mitsubishi Electric aim to complete the 1.6T and 3.2T optical engine chipsets in early 2025 and to then demonstrate the innovation during the first half of that year.

AI and cloud datacenter networks are the leading consumers of pluggable optics. The global optical transceiver market for 800G and 1.6T is projected to grow at a CAGR of 33% from $2.5 billion in 2024 to $10.5 billion by 2029, according to LightCounting’s forecast.

About POET Technologies Inc.
POET is a design and development company offering high-speed optical engines, light source products and custom optical modules to the artificial intelligence systems market and to hyperscale data centers. POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET’s Optical Interposer platform also solves device integration challenges across a broad range of communication, computing and sensing applications. POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore. More information about POET is available on our website at www.poet-technologies.com.

About Mitsubishi Electric Corporation
With more than 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (TOKYO: 6503) is a recognized world leader in the manufacture, marketing and sales of electrical and electronic equipment used in information processing and communications, space development and satellite communications, consumer electronics, industrial technology, energy, transportation and building equipment. Mitsubishi Electric enriches society with technology in the spirit of its “Changes for the Better.” The company recorded a revenue of 5,257.9 billion yen (U.S.$ 34.8 billion*) in the fiscal year ended March 31, 2024. For more information, please visit www.MitsubishiElectric.com.

Mitsubishi Electric’s InP-based semiconductor laser has a long history of development and business over 60 years and has been widely used in various industries.

www.MitsubishiElectric.com/semiconductors/opt/



Media Relations Contact:
Adrian Brijbassi
[e-mail] Company Contact:
Thomas R. Mika, EVP & CFO
[e-mail]

[prototype_101]

POET Selected by Mentech to Supply Engines for 800G and 1.6T Optical Modules
POET Technologies Inc.

Tue, Sep 10, 2024, 7:00 AM EDT


POET Technologies Inc.
Global leader in optical products places initial orders to supply AI system operators and hyperscale data centers

TORONTO and SHENZHEN, China, Sept. 10, 2024 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer™, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and AI markets, today announced that Mentech Technology (“Mentech”) has selected POET’s transmit and receive optical engines for use in the development of 800G pluggable transceiver and has placed purchase orders for those engines. The sample orders by Mentech are for initial builds and engineering development.

https://finance.yahoo.com/news/poet-selected-mentech-supply-engines-110000883.html

[mackwheaton]

Good info, thanks proto

I think the $250M shelf might be scaring some, historically offering invite share price drops. I suspect this one will be held for an acquisition or a facility build-out, so it should be more SP neutral (famous last words). The current SP is laughable, but becoming more and more an opportunity with each additional client, don’t mind if the market looks away for a little while longer.

Every one of these wins speaks to the tech’s acceptance at a level beyond the Mentech, Foxconns , Luxshares involved; they are the intermediaries. As we get to know who their clients are, we will get to see the level of adoption taking place.

Strik, hope you’re knocking your trades dead. At some point, this will move out of the basement, hope you (we) are here to see it.

[prototype_101]

Business of SPX
SPX's principal role with respect to the Corporation is limited to the assembly, testing and production of sales of 100G and 200G optical engines globally and 400G optical engines in China. At the present time, the role of SPX does not include volume production of any optical engine products for the Corporation. Although the Corporation benefits from SPX's assembly and testing capabilities, the primary benefit of the SPX joint venture for the Corporation is the Corporation's ability to benefit from the demonstration of the technical feasibility and market acceptance of its products. The Corporation expects these demonstrations provided by SPX to enhance the Corporation's ability to sell 400G optical engines outside of China as well as 800G and higher speed optical engines in all markets.

Based on the terms of the SPX JV Agreement, all revenue from sales of 100G and 200G optical engines globally, and sales of 400G optical engines in China, is generated and recognized by SPX and not the Corporation. All sales of 400G optical engines outside of China are generated and recognized by the Corporation. In addition, all revenue generated by the assembly, testing and production of 100G and 200G optical engines globally and 400G optical engines in China are generated and recognized by SPX and not the Corporation. At this time, the Corporation has not yet determined if it will grant SPX the right to assemble and produce in volume 800G optical engines in China.

excerpt found on p9

https://www.sedarplus.ca/csa-party/records/document.html?id=ae47f4b321a6da6df6e2541492e27bdb19d43a9b47203ea1a2d9fbf88dca4c64

[Xrouter]

Agree totally with what you said. But I’ve been averaging between $500 too a grand almost every week playing this one. I’ll continue til I feel the decline coming. Poet has been very very good to me. Thank you, Poet.

[Cytotech55]

FJ is trying to rally the troops on Agoracom again. The same longs, (bag holders) get delusional every year at this time before the conferences start. Thinking “this year will be different”, “we are going to take off to the moon because something will be announced at the conference “….. We are going back to the 52 week lows and that is exactly where the powers that be want it. Nice and low for the buyout.

[Xrouter]

Another buying opp??? Or fools gold??? Just grabbed 3k @$2.97

[prototype_101]

POET Streamlines its Global Engineering Organization in Response to AI Market Demand

Schedules closing of Allentown, PA operation, saving US$2M annually

TORONTO, Aug. 29, 2024 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer™, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and artificial intelligence markets, today announced a reorganization of its engineering team to streamline design, component engineering and New Product Introduction (NPI) activities globally, in response to active customer demand for 800G and higher products directed at the AI systems and hyperscale data center markets.

While the major AI network and systems companies are located in North America and China, almost all module makers, including the Company’s current customers for optical engines, are located in China, Taiwan and other Asia Pacific countries. To better serve these and other customers, POET has established a Global Engineering Organization based in Singapore, which will be led by Dr. Mo Jinyu, Senior Vice President, with the New Product Introduction (NPI) and component engineering teams reporting to her. NPI is responsible for taking optical engine and module products from prototype design to initial manufacturing, coordinating with the product design and production teams along the way. All of these functions benefit from tight integration and geographic proximity. Critical product design and architecture, key customer relationships, global marketing & sales, and intellectual property management all continue to remain centered in Silicon Valley California, while the Company’s finance, investor relations and other administrative functions are managed from its headquarters in Toronto, Ontario.

As a result of this reorganization, the functions of engineering design and manufacturing interface, previously managed by POET’s Allentown, PA organization will be transferred to POET’s Shenzhen operation, with other functions being transferred to Singapore. Compared to its annualized spend at the beginning of the year, the annual savings realized from the closing of Allentown on or before March 31, 2025, will be between US$1.8 million and $2 million annually, with one-time costs estimated at approximately US$250 thousand.

“Now that the Company has a strong balance sheet, we can confidently plan for our future, by streamlining the organization with a laser focus on securing design wins, delivering products and taking volume production orders from customers,” said Dr. Suresh Venkatesan, Chairman & Chief Executive Officer of POET. “We fully expect that the partnerships and customers that we have announced over the past few months will mature into module designs that will qualify with end users and convert to optical engine revenue later this year and into 2025, with ultra-high growth in the years to follow.”

About POET Technologies Inc.
POET is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centers. POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET's Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET’s Optical Interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, self-contained “Edge” computing applications and sensing applications, such as LIDAR systems for autonomous vehicles. POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore. More information about POET is available on our website at www.poet-technologies.com.

Media Relations Contact:
Adrian Brijbassi
[e-mail] Company Contact:
Thomas R. Mika, EVP & CFO
[e-mail]

[Cytotech55]

Good luck!

[Xrouter]

I pick up a bunch under $3 for a quick trade while I wait for WNFT to hopefully go ballistic

[Cytotech55]

Hahaha…. Gee, another one??? Who woulda thought? Glad management got to reprice those options!!

[Xrouter]

Buying OPP!!!!!! EOM

[gladeshawk]

Pullback to under $3.00 in progress??

[Xrouter]

Good luck

[XenaLives]

Both companies are exploited by Ai -

The only way one can exploit them properly is to be connected to AI...

[Xrouter]

Doubt it. I’ve bought and sold POET successfully over the past few decades from .73 to $15 per share. I’ll buy my “”traders”back in the twos if it falls back or if the boat comes in I’ll cash my core. Same with LWLG. Only difference is I don’t hold a core there. Both companies (IMO) are run poorly so good luck and much fortunes with them.

[XenaLives]

Maybe you missed the boat....

[Xrouter]

Trying to figure a good entry point. Maybe under 3??

[glenn1919]

POET..............................https://stockcharts.com/h-sc/ui?s=POET&p=W&b=5&g=0&id=p86431144783

[20stockman20]

Good move my friend. I put mine up for sale with a .02 trailing stop.

[Xrouter]

Sold traders @ $3.4. See you later Good Luck buddy

[macnai]

Nauman Khan on Barchart likes Poet.
https://www.barchart.com/story/news/28081076/1-semiconductor-stock-under-5-thats-outperforming-nvidia

[20stockman20]

Not to sound flippend , but so what if the market crashes? That is not the end of the world.
Remember the boy scout motto “ be prepared"

[QuatroPaul]

What about the Apple connection? 10's of million units etc....too much going on....if it goes back to $2, the market has crashed

[20stockman20]

I agree.

[Xrouter]

Great earnings. More costs. More $$ in management pockets. Kitty goin down. They’ll probably need more $$ sooner than later. I’ll be a buyer under $2

[Xrouter]

Oh boy. Another buying opportunity!!!! Too bad I’m Poet broke.

[mackwheaton]

Agreed proto, although the Luxshare news might imply a different arrangement. I suspect we will hear more on that soon. I don’t think Foxconn and Luxshare would have signed on without a secondary source for the optical engines they likely require on a large scale, and POET cannot have source be China based.

Initially SPX was to be for legacy 100/200G worldwide and 400G for Asia (?) only. This rapid acceleration to 800G/1.6T is a game changer, and may have POET re-thinking how much they want to be splitting revenues going forward.

A thought only, but POET has that $250 million shelf opened I believe in June. Might POET opt to create their own version of SPX or partner with a non China company to do so?

Given that the technology is worth far more than a 50-50 or less split with a contract manufacturer, I’d hope to see future deals that reflect its importance and value at a higher share of the pie.

[prototype_101]

I believe that is because much of these expected sales will be booked as part of the SPX JV and not be shown on Poet financials as Revenues

[Xrouter]

One kazillion bazillion dollars next few months

[kytrader77]

Anybody have an idea of revenue estimates for 2025 & 2026? I only see 2 analysts with an avg of 13 million in sales for 2025. Seems low but I’m fairly new here.

[kytrader77]

Anybody have an idea of revenue estimates for 2025 & 2026? I only see 2 analysts with an avg of 13 million in sales for 2025. Seems low but I’m fairly new here.

[mackwheaton]

Good timing strik.

👀 ... Details in just 12 hours.#POETpowersAI pic.twitter.com/babr1nEQcd

— POET Technologies (@POETtech) August 1, 2024

[20stockman20]

Good move.

[Xrouter]

Just got my $2.7 filled

[20stockman20]

THX MY FRIEND. Check out BEEM

[MartinLutherKing]

Nice POET spike brother, Look out RNAZ Explosion

[20stockman20]

Ant thoughts on the after hours spike up then a drop off?

[Texbanker]

I don't think that internet backwater has much sway. Agoracom is the standard bearer for POET and they are bearish af right now.

[Texbanker]

The latest Mazan post is interesting. Seems like he is beginning to lose patience with these clowns too.

[prototype_101]

2024 Optica Photonic-Enabled Cloud Computing (PECC) Industry Summit

I thought I would list companies represented at the conference by market cap.

Market Cap

Nvidia 2.8 T

Broadcom 703.3 B

IBM 176.3 B

Intel 134 B

Arista 98.4 B

Synopsys 84.7 B

Marvel 55.4 B

Corning 37.6 B

GlobalFoundry 28.1B

HPE 25.2 B

Ansys 27.1 B

Jabil 12.5 B

Coherent 10.7 B

Lumentum 3.4 B

Infinera 1.4 B

Lightwave Logic 447.9 M

Poet Technologies 176.4 M

Poor little Poet at the bottom of the list but Oh......What company to keep.

How far will Poet rise up that list and when??

https://agoracom.com/ir/POETTechnologies/forums/discussion/topics/803343-suresh-linkedin-post-re-2024-optica-photonic-enabled-cloud-computing-pecc-industry-summit/messages/2417950#message

[Xrouter]

1 millionth Buying Opp!! EOM

[Xrouter]

Buying opportunities!!!!!!!!!? Yeah. Right

[Xrouter]

I guess Proto that PoET’s ATM must of broke down. You’d think that a normal company would have bought through the ATM and saved the “shareholders” less future headaches and dilution. Again the management shows how poorly this company is run and how a stock heading up can quickly be killed by poor decision making. GLA, Strik

[prototype_101]

Registered Direct Offering

On July 19, 2024, POET Technologies Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with MMCAP International Inc. SPC (the “Purchaser”), pursuant to which the Company agreed to sell and issue to the Purchaser, in a registered direct offering (the “Offering”), consisting of an aggregate of (i) 3,333,334 common shares, without par value (the “Common Shares”), and (ii) a warrant or warrants (the “Warrants”) exercisable for an aggregate of up to 3,333,334 Common Shares. The Common Shares and the accompanying Warrant in respect of one Common Share, can only be purchased together in this Offering but will be issued separately and will be immediately separable upon issuance. The price for each Common Share and accompanying Warrant in respect of one Common Share was $3.00. No placement agent is involved in this Offering.

The net proceeds to the Company from the Offering are expected to be approximately $9,800,002, after deducting offering expenses payable by the Company. The Offering is expected to close on or about July 19, 2024, subject to customary closing conditions.

https://agoracom.com/ir/POETTechnologies/forums/discussion/topics/803244-mmcap/messages/2417690#message

considering they get 1 share and 1 warrant for $3.00 total which is below market just for 1 share at close was $3.18, but I give Poet credit for padding the Cash for Operations, something they have been miserable at in the past!!

[20stockman20]

ought back in

[prototype_101]

glad to hear it! eom

[Xrouter]

I sold all. I made a pretty penny in the last month or two with trading poet. I’ll never trust their leaders considering what I and our moderator have gone through with those “gentlemen “.

[20stockman20]

I sold off half , waiting for the pullback.

[Xrouter]

Just planning it now. Will probably go after Labor Day when traffic dries up. Poet looking strong today. Waiting for a pullback but may not happen