POET Technologies Inc. said on April 27, 2026, that Marvell Semiconductor had wiped out all purchase orders tied to Celestial AI, including initial production units first announced in April 2023. The company said Marvell sent written notice of the cancellation on April 23, and that the canceled business had included early production orders that were once expected to move forward.
The move lands at a moment when POET, which trades under NASDAQ:POET, has been pushing to widen its role in high-speed data transfer and telecommunications markets. Dr. Suresh Venkatesan said the company received more than $225 million in funding in the fourth quarter and another $150 million in January 2026, money it said was meant to expand manufacturing capacity and meet customer demand.
Marvell said the cancellation followed a breach of confidentiality obligations, alleging that order and shipping information had been disclosed. POET did not address that claim in the facts provided, but said it continues to fulfill orders for other customers and recently announced a purchase order worth around $5 million. It also said it has received a production order in excess of $5 million for its Infinity optical engines.
The cancellation is a setback for a company that has been touting faster commercialization and growing client activity in AI networking. POET designs, develops, manufactures and sells optoelectronic products for sensing, data transfer and telecommunications, and it created the POET Optical Interposer platform. The company has said it wants to supply more than 30,000 optical engines this year across high-speed and high-power applications, a target that now depends in part on how quickly it can replace or offset any lost Celestial AI-related demand.
For investors watching Poet Stock, the key issue is not only the size of the canceled orders but whether POET can keep converting its broader pipeline into shipments. The company is still talking about growth, funding and production, but April 27 showed how quickly a major customer dispute can change the picture.
