POET announces $75m investment
Canadian company POET Technologies has closed $75 million investment deal with a single institutional investor.
Representing the largest single investment in the PIC firm's history, the money will be used for corporate development, including acquisitions, scaling up of R&D, acceleration of the light source business, all with a focus on opportunities offered by AI applications.
“The massive growth of AI infrastructure represents an unprecedented opportunity for which POET is well-prepared,” said Suresh Venkatesan, executive chairman and CEO of POET.
“Our base thesis has always been to provide a flexible integration platform for cutting edge technologies and to scale those advanced solutions rapidly and economically. With a war chest of over $150 million in cash and no significant debt, we are now able to scale up our own growth ambitions in the market for advanced AI hardware solutions.
"This includes investments and targeted acquisitions to secure our technological lead and revenue generating opportunities in light sources for chip-to-chip connectivity, ultra high-speed transceivers and related applications.”
