Business UpdateApr 27, 2026, 08:59 AM
POET: Celestial AI/Marvell Cancels All Purchase Orders
AI Summary
POET Technologies Inc. announced the cancellation of all purchase orders from Celestial AI, including initial production units, following written notice from Marvell Semiconductor Inc., which acquired Celestial AI. Marvell cited POET's breach of confidentiality obligations regarding disclosures of order and shipping information. Despite this setback, POET stated it remains focused on its strategic priorities and fulfilling product deliveries for other customers, including a recently disclosed $5 million purchase order.
Key Highlights
- POET Technologies announced the cancellation of all purchase orders from Celestial AI.
- Marvell Semiconductor Inc., which acquired Celestial AI, provided written notice of the cancellation on April 23, 2026.
- Marvell cited POET's disclosures of information related to the purchase orders and shipping as a contravention of confidentiality obligations.
- POET remains focused on strategic priorities and fulfilling product deliveries for other customers.
- The company recently disclosed a purchase order with another technology company valued at approximately $5 million.