Celestial AI cancels all Poet Technologies purchase orders
Updated
Updated · The Motley Fool · May 5
Celestial AI cancels all Poet Technologies purchase orders
13 articles · Updated · The Motley Fool · May 5
The Marvell Technology subsidiary scrapped orders dating to 2023, removing a contract worth about $5 million and triggering a sharp sell-off in Poet shares.
Marvell said the cancellation involved a breach of confidentiality requirements, while the report said strategic misalignment or a preference to develop photonics technology in-house may also have contributed.
The setback clouds Poet's push to commercialise AI photonics hardware: 2025 revenue rose nearly 2,500% to $1.07 million, but its operating loss widened to $42.1 million.
Was a canceled $5M deal a rival's strategic kill, or did Poet Technologies cause its own downfall?
As giants like Marvell build in-house, can small innovators like Poet Technologies survive the AI hardware race?