- POET Technologies (TSXV:PTK;NASDAQ:POET) will expand production capacity for its optical engines in Malaysia to better capitalize on demand for artificial intelligence (AI) infrastructure
- The company expects to reach a capacity exceeding one million optical engines per year over the near term
- POET develops optical engines, light source products and custom optical modules enabling high-speed communication in the AI and data centre markets
- POET Technologies stock is up by 257.78 per cent year-over-year and 78.89 per cent since 2019
POET Technologies (TSXV:PTK;NASDAQ:POET) will expand production capacity for its optical engines in Malaysia to better capitalize on demand for artificial intelligence (AI) infrastructure.
POET is currently in negotiations with numerous contract manufacturers in Malaysia and expects to sign an agreement in November and initiate operations by the end of 2024.
To expedite global expansion, the company also signed a memorandum of understanding with Quanzhou Sanan Optical Communication Technology, whereby POET will purchase an additional 24.8 per cent stake in the optical-engine-focused joint venture Super Photonics Xiamen. The purchase grants POET 100-per-cent ownership in addition to all production equipment previously leased from Sanan.
Leadership insights
“The addition of wafer-scale equipment to our assembly and test operations will significantly expand our production capacity to cover the projected needs of our customers for 800G optical engines being sold to AI networks through 2026,” Suresh Venkatesan, POET Technologies’ chairman and chief executive officer, said in a statement. “We can now project an assembly and test capacity exceeding one million optical engines per year, all dedicated to the 800G and higher-speed transceivers required for AI clusters.”
About POET Technologies
POET develops optical engines, light source products and custom optical modules enabling high-speed communication in the AI and data centre markets.
POET Technologies stock (TSXV:PTK;NASDAQ:POET) is up by 15 per cent trading at C$6.44 per share as of 9:34 am ET. The stock is up by 257.78 per cent year-over-year and 78.89 per cent since 2019.
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