Poet shares jump on $50 million Lumilens deal and $400 million raise

Poet Technologies’ shares surged sharply Thursday after the photonics company said it entered a supply and joint development agreement with Lumilens that includes a $50 million initial order, with the potential to scale to more than $500 million over five years. The deal, announced last week in San Jose, California, targets optical interconnect technology for AI data centers and helped drive a major jump in POET’s stock before the company released first-quarter results and announced an additional fundraising plan.

Under the agreement, Lumilens placed an initial $50 million purchase order for electrical-optical interposer, or EOI, based optical engines. The companies said they will also jointly develop wafer-level photonic modules designed to replace electrical signaling with light, with the aim of improving power efficiency and bandwidth density for AI infrastructure. Lumilens will receive a nine-year warrant allowing it to buy up to 22,921,408 common shares at an exercise price of $8.25 per share. Engineering samples are expected by late 2026, with volume manufacturing targeted for 2027 deployments by hyperscale data center customers.

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