POET Technologies Inc. (NASDAQ: POET) saw its stock price surge 5.08% during pre-market trading on Thursday.
The significant move follows the company's announcement of a strategic partnership and supply agreement with Lumilens Inc. The agreement establishes a joint development program focused on a new Electrical-Optical Interposer (EOI) platform for AI infrastructure and includes an initial purchase order from Lumilens valued at $50 million for the manufacturing of EOI-based engines.
Furthermore, the commercial framework indicates the relationship could scale to over $500 million in cumulative purchases from POET over a five-year period. As part of the agreement, POET has granted Lumilens a warrant to purchase up to approximately 22.9 million common shares, aligning both companies to the long-term value of the partnership aimed at next-generation AI data center connectivity.
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