POET's Silicon PICs Chosen By Foxconn Interconnect For Next-Gen Optical Modules: Details
Portfolio Pulse from Akanksha Bakshi
POET Technologies Inc. (NASDAQ:POET) has been selected by Foxconn Interconnect Technology to supply silicon photonics integrated circuits (Silicon PIC) for 800G and 1.6T optical transceiver modules. This partnership aims to serve advanced AI and high-speed data center networks. POET will provide optical engines using its Optical Interposer technology, contributing to a market expected to grow at a 33% CAGR, reaching $10.5 billion by 2029. The design completion for these optical engines is anticipated by Q3 2024, with production starting in Q4 2024 at Super Photonics Xiamen, a joint venture. POET's stock saw a 9.59% increase to $2.38.
May 14, 2024 | 2:06 pm
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POET Technologies Inc. has entered a significant partnership with Foxconn Interconnect Technology to supply Silicon PICs for 800G and 1.6T optical transceiver modules, aiming at advanced AI and high-speed data center networks. This collaboration, leveraging POET's Optical Interposer technology, positions the company within a rapidly growing market, with expectations to start production by the end of 2024. The announcement has already positively impacted POET's stock, which increased by 9.59%.
The partnership with Foxconn Interconnect Technology is a significant development for POET Technologies, indicating a strong demand for its Silicon PICs in the high-speed data center and AI markets. The positive market reaction, reflected in the stock price increase, suggests investor confidence in POET's technology and market positioning. The anticipated growth of the optical transceiver market further supports the potential for increased revenue and market share for POET, making this news highly relevant and important for investors.
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