Don't Miss Our New Year's Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
The latest update is out from POET Technologies ( (TSE:PTK) ).
POET Technologies has successfully acquired full ownership of Super Photonics Integrated Circuit Xiamen Co., Ltd. (SPX), previously a joint venture with Quanzhou San’an Optical Communication Technology. This acquisition, alongside their partnership with Globetronics Manufacturing, enhances POET’s production capacity to over one million optical engines annually, catering to the growing demand for high-speed transceivers in AI networks. The company plans to consolidate SPX’s financial results and implement its ‘China Plus One’ strategy, which is expected to strengthen their market presence in China and improve operational control and customer relations.
More about POET Technologies
POET Technologies Inc. is a design and development company specializing in high-speed optical modules, optical engines, and light source products for artificial intelligence systems and hyperscale data centers. Their solutions utilize the patented POET Optical Interposer platform, which integrates electronic and photonic devices into a single chip. The company’s products offer advantages in cost, power consumption, size, and scalability, addressing challenges in AI clusters, 5G networks, and autonomous vehicles.
YTD Price Performance: 580.21%
Average Trading Volume: 2,087,547
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $447.6M
For detailed information about PTK stock, go to TipRanks’ Stock Analysis page.
