POET Assessment November 2025

I want to reflect on where POET is currently. POET presents a compelling case for being deeply undervalued at its current stock price (😢), particularly when considering its existing and developing partnerships with various major companies. The key discussion point for the future is the large-scale manufacturing alignment. POET has secured significant external validation from several connections to companies big and small, most notably through the recent $5 million purchase order. This order confirms major companies are moving forward with POET's technology. While the validation is strong, the inherent risk remains focused on the company's ability to transition to full-scale commercial manufacturing and meet the potential demand from these partners. Details regarding the exact manufacturing strategy and its execution are still up in the air.

Let’s take a dive. ALL IMO! This is not investment advice!

$$ \LARGE The “What” $$

POET Technologies is not another component supplier; it is the disruptive manufacturing platform poised to break the AI bottleneck.

The company is successfully translating its foundational intellectual property into commercial validation and a near-term revenue pipeline, supported by a deep network of industry giants. This transition from R&D to high-volume production is the key inflection point that justifies a profound re-valuation much higher that it currently is.

Manufacturing Disruption (Wafer-Scale Scalability):
- POET's Optical Interposer™ replaces manual, expensive "active alignment" with automated, wafer-level passive assembly. This is the "semiconductorization" of photonics, driving down costs and delivering the unlimited scalability required by AI hyperscalers. The Optical Interposer platform includes features that support a self-aligned Fiber Array Unit (FAU), which is the component that mates the optical engine to the fiber cable. This dramatically simplifies the final assembly step for module makers.
Unmatched Power Efficiency (The AI Necessity):
- High integration eliminates bulky components, resulting in up to 70% lower power consumption per bit.
  
  "Nearly 60% of data center power today is spent moving data, not processing it"
- This directly solves the #1 requirement for AI data centers struggling with massive power and cooling costs, making POET's engine a necessary technology.
Revenue Conversion (Validated Production Ramp):
- Validation is confirmed with an over $5 million production order for 800G engines from a key systems integrator.
- This PO triggers the crucial revenue ramp expected through 2026. Converting just a small fraction of partner market share is the immediate path to explosive growth.
Ecosystem Control (Pre-Qualified Route-to-Market):
- Alliances span the entire AI supply chain, from Component Suppliers (Mitsubishi, Semtech) to the Module Manufacturers (Luxshare, Foxconn/FIT) who build servers for giants like NVIDIA.
- This network provides POET with a pre-qualified route-to-market directly into the world's largest AI infrastructure projects.

POET's Current Product Lineup

Product / Platform	Primary Focus	Speed/Capacity	Key Features	Status
POET Optical Interposer™	Core Platform	N/A	Passive, wafer-scale integration of light sources (lasers), modulators, and detectors.	Patented, Commercial Foundation
POET Infinity™	Optical Engines (AI Transceivers)	800G capable (2xFR4, 2xDR4)	Integrated EML lasers, drivers, MUX/DMUX, and photodiodes on the Interposer.	Production Order received (Shipments H2 2026)
1.6T Rx Optical Engine	Receiver Engines (AI Clusters)	1.6T DR8 and 2xFR4	Co-developed with Semtech; integrates Semtech’s FiberEdge™ 200G/lane receiver (TIA) technology.	Available for Customer Sampling
3.2T Engine	Next-Gen Co-Packaged Optics (CPO)	3.2T and beyond	Co-development with QCi using 400G/lane Thin-Film Lithium Niobate (TFLN)modulators.	Targeted completion H2 2026
POET Starlight™	Light Sources (Chip-to-Chip)	N/A	Multi-laser light sources for in-package and chip-to-chip connectivity (e.g., Celestial AI).	In Development/Customer Engagement

"POET's optical engines have been designed into modules that are currently being engineered by several module makers in China... What makes POET unique is that our optical engines are fully integrated, chip-scale devices that are assembled like semiconductors hundreds at a time, rather than one at a time, which is how most optical engines are built today. We have met and overcome the challenge of scale. As such, we are able to make optical engines cost effectively at the size, volumes, and energy savings that are needed for high-speed, high-bandwidth applications like artificial intelligence."

— Dr. Suresh Venkatesan, the Chairman and CEO of POET Technologies

Blazar™ This prototype product is a differentiated component. Blazar is a high-power (>100mW) laser that disaggregates the gain medium portion of a typical DFB laser from the frequency-selection gratings, which are instead etched into the waveguides on the Optical Interposer. This makes a lower-cost, high-power substitute for a DFB laser. The Blazar can be used both as a laser that drives its optical engines or as a light source for light-based data communications between GPUs and memory devices. It will be introduced as a product at the upcoming OFC in Los Angeles, from March 15th to 19th, 2026.