The latest update is out from POET Technologies ( ($TSE:PTK) ).
POET Technologies has announced a manufacturing agreement with Globetronics Manufacturing in Malaysia to produce optical engines, marking a strategic expansion of its manufacturing capabilities. Additionally, POET provided updates on its acquisition of the minority stake in its Chinese joint venture, Super Photonics Xiamen, and confirmed a fully subscribed $25 million public offering. These developments are expected to enhance POET’s operational efficiency and support its ‘China Plus One’ strategy, potentially strengthening its position in the AI and telecommunications markets.
More about POET Technologies
POET Technologies Inc. is a design and development company offering high-speed optical modules, optical engines, and light source products to the artificial intelligence systems market and hyperscale data centers. Their photonic integration solutions are based on the POET Optical Interposer platform, which integrates electronic and photonic devices into a single chip using advanced semiconductor manufacturing techniques. POET’s products are known for being lower in cost, power-efficient, and scalable for high production volumes. The company addresses challenges in AI systems, 5G networks, machine-to-machine communication, and more, with operations in Toronto, Allentown, Shenzhen, and Singapore.
YTD Price Performance: 707.45%
Average Trading Volume: 2,024,181
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $404.2M
For an in-depth examination of PTK stock, go to TipRanks’ Stock Analysis page.
