Stock Track | POET Technologies Soars 32.72% Intraday on $50 Million Lumilens Deal and AI Partnership

Stock Track05-14 21:43

POET Technologies Inc.'s stock experienced a significant intraday surge, soaring 32.72% on Thursday. The dramatic move captured strong investor attention during the trading session.

The sharp rally was driven by the company's announcement of a strategic supply and joint development agreement with Lumilens Inc. The partnership is focused on advancing wafer-level photonic integration technology for next-generation AI optical networks. A key component of the agreement is an initial purchase order from Lumilens valued at $50 million for the manufacturing of engines based on the new Electrical-Optical Interposer (EOI) platform.

The commercial framework indicates the relationship has the potential to scale to over $500 million in cumulative purchases from POET over a five-year period. As part of the deal, POET 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 AI data center connectivity.

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