Poet Technologies Shares Fall After Marvell Cancels Celestial AI Orders

Dow Jones02:56

By Katherine Hamilton

Poet Technologies shares slid after Marvell Technology cancelled purchase orders from Celestial AI.

The stock sank 48% to $7.93 on Monday. Shares are still up 25% this year.

The optical engine developer said Marvell cancelled all of Celestial AI's purchase orders after acquiring the company.

Marvell also indicated that Poet had violated confidentiality obligations when making disclosures of information related to the purchase order and shipping information, Poet said.

Poet said during an earnings call last June that it had initiated its first shipments to Celestial AI. Marvell acquired Celestial AI this February.

Poet said it is focused on its other partnerships, including a recently disclosed purchase order with another technology company for $5 million.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

April 27, 2026 14:56 ET (18:56 GMT)

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Shares are still up 25% this year. \n\n\n  The optical engine developer said Marvell cancelled all of Celestial AI's purchase orders after acquiring the company. \n\n\n  Marvell also indicated that Poet had violated confidentiality obligations when making disclosures of information related to the purchase order and shipping information, Poet said. \n\n\n  Poet said during an earnings call last June that it had initiated its first shipments to Celestial AI. Marvell acquired Celestial AI this February. \n\n\n  Poet said it is focused on its other partnerships, including a recently disclosed purchase order with another technology company for $5 million. \n\n\n \n\n\n  Write to Katherine Hamilton at katherine.hamilton@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 27, 2026 14:56 ET (18:56 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.42.0","shortVersion":"4.42.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2630314376","isCrawlerRequest":true}