POET Stock Surges 40% as Marvell Deal Sparks Speculation

POET Technologies shares have surged nearly 40% in two days due to growing interest in its photonics technology, particularly after its CFO confirmed a business relationship with Marvell Technology.

The hype has been fueled by speculation that Nvidia and other chip majors may tap POET's photonics tech. In an interview with Stocktwits, Chief Financial Officer Thomas Mika revealed that the company received a purchase order linked to Marvell's Celestial AI division and is waiting on newer orders from manufacturing giants Foxconn and Luxshare.

The Marvell-linked order is tied to Celestial AI, which has a supplier and co-development partnership with POET since 2022. Mika highlighted that the $5 million purchase order for Optical Engines disclosed last October 'helps us with betting down our manufacturing effort.' He said orders this year would be 'far in excess of that five million.'

The interview sparked a buzz among retail traders and observers, shifting sentiment to 'extremely bullish' on Stocktwits. Message volume surged nearly 50% in the past 24 hours.