Overview
- Shares spiked about 29% intraday earlier this week without any new filings or press releases, a move much larger than broader market gains.
- Marvell said it canceled all Celestial AI–related purchase orders with POET on April 23 over alleged confidentiality breaches tied to order and shipping disclosures.
- At publication, the stock traded near $9.74 and remained well above recent average prices, though some indicators now point to cooling momentum.
- Traders are watching whether a separate $5 million purchase order with another technology firm can help support near‑term revenue.
- POET builds optical engines and light sources for AI data centers using its Optical Interposer platform, and the Marvell decision has heightened concerns about customer concentration and near‑term sales visibility.