Key insights
- Marvell canceled POET Technologies' purchase orders due to an alleged confidentiality breach related to disclosures about the Celestial AI acquisition. This news triggered a significant premarket drop in POET's stock price. While POET is focused on other customers, the cancellation raises concerns about its relationships with major players in the AI and optical networking sectors.
Source: https://www.stocktitan.net/news/POET/poet-technologies-provides-purchase-order-xjsf3k3o0cae.html
SAN JOSE, Calif., April 27, 2026 (GLOBE NEWSWIRE) -- POET Technologies Inc. ("POET" or the "Company") (NASDAQ: POET), a leader in the design and implementation of highly-integrated optical engines and light sources for artificial intelligence networks, today announced the cancellation of all purchase orders received by the Company from Celestial AI, including the ones for initial production units first disclosed (the "Purchase Orders") by the Company in a press release on April 25, 2023. Marvell Semiconductor Inc., which acquired Celestial AI, provided written notice of the cancellation to the Company on April 23, 2026. As the basis for the cancellation, Marvell indicated that the Company had made disclosures of information related to the Purchase Order and shipping information in contravention of its confidentiality obligations.
The Company remains focused on executing its strategic priorities and advancing product development within the AI and optical networking markets to meet increasing demand. This effort also involves fulfilling product deliveries for other customers, including a recently disclosed purchase order with another technology company with a value of approximately $5 million.