u/savanahonana

Hi guys, I hope everyone is enjoying there weekend, as you guys know I’ve released extensive research for this company given on passed situations that have happen, a 56,000 character research paper a part 1-7 . In order to understand how i get to these conclusions you must read them first.

I want to start first with the vote, as you noticed the US Redomicile wasn’t included, very limited on what was said about this only we might have to wait until the end of the year before a US move.

However I don’t think that’s the case, and I’ll explain why.

After the vote, CEO Suresh Venkatesan spoke but the way he spoke was like a weight was lifted off his shoulders, a feeling of relief or accomplishment, he then gave a
Some what emotional farewell to Thomas Mika. Thanking him for the last 10 years.
You know The same CFO who burned the Marvell deal with a supposedly NDA breech.

Why the redomicile probably needs to happen before Mika leaves, not after.

Mika has 10 years of institutional knowledge of POET’s Canadian filing structure, the PFIC mess, the NI 51-102 obligations, the FPI exemptions POET currently relies on. A redomicile means switching the entire SEC reporting regime 20-F/6-K to 10-K/10-Q, new SOX internal-controls scoping, new audit opinions under the new entity structure. Handing that off to a brand new CFO who’s also simultaneously learning the new domestic filer regime for the first time raises the same kind of risk that produced a material weakness in POET’s FY2024 filing one POET already remediated and closed out clean by year end 2025. A repeat of that pattern during a CFO transition is exactly the scenario the institutional knowledge handoff is meant to avoid. The clean way to sequence this is Mika executes the redomicile while he still has full institutional knowledge, hands off a stabilized US domestic filer to his successor, then retires.

That argues for the move compressing toward Q3, not drifting to December. If Mika genuinely wants out by year end, and you don’t want a brand new CFO inheriting an unfinished cross border transition, the redomicile has to substantially close with enough runway for Mika to also onboard a successor into the new structure not the old one. “End of year” as a stated floor/caveat (“might have to wait until…”) is consistent with him hedging on the worst case, while the actual internal target is probably tighter.

Let me make this clear . Mika is a very smart man. And we know this because of POETs balance sheet $830 million in cash, with $50 million deployed to expand already. A bad CFO would not have this and there is no successor named yet because of how this job is not easy.
whoever takes this job inherits the redomicile, the internal controls remediation, and the $830M deployment decisions simultaneously. That’s also exactly why the hiring delay is informative. I also want to mention if there’s a real near term redomicile plan, confirming specifics live in a Q&A is exactly the kind of thing companies avoid doing informally, because it’s material information that’s supposed to go out through a controlled disclosure (press release, 8-K/6-K), not get confirmed off the cuff in response to a shareholder question. So Mika being vague doesn’t necessarily mean nothing’s decided it could just as easily mean something’s decided and they’re not saying it there.
Only evidence we have Mika’s own words (“still assessing,” “haven’t reached a conclusion,” “won’t know until year end”) nothing on record tells us they’ve actually locked a date.

Next Let’s take a look at who’s on board and where they come from.

Suresh Venkatesan GlobalFoundries, Freescale

Jean-Louis Malinge ARCH Venture Partners, Kotura (acquired by Mellanox), Corning

Glen Riley : Qorvo/TriQuint, Opticalis, Agere Systems, Lucent

Bob Tirva : IBM, Broadcom, Dropbox, Sonim

Theresa Lan Ende : Arista Networks, JDSU, Force10, Cisco

Sohail Khan : Coherent Corp, LightPath, ViXS, Intersil, Agere Systems

Out of the 22 companies listed across these six executives, 21 are US based backgrounds.

Now you guys have seen the presentation
If you haven’t I want you to look at it again because what I’m about to show you is a comparison of exactly what happen to this company called Applied Optoelectronics Inc.
ticker symbol : AAOI

First let me explain who they are

Applied Optoelectronics Inc. Designs, manufactures, and sells fiber optic networking products optical modules, filters, lasers, laser components, subassemblies, transmitters/transceivers, and amplifiers to internet data center operators, cable TV, telecom equipment makers, and ISPs, with operations in the US, Taiwan, and China.

Founded in 1997, headquartered in Sugar Land, Texas founded by Chih Hsiang Lin, who’s still CEO.

Positioned as an AI/data center optics play 2025 revenue was $455.72M, up 82.75% YoY, and strong demand for 800G and 1.6T products is driving capacity expansion in Taiwan and Texas, with revenue guidance raised to $1.1B and supply expected to lag demand through 2027
Stock’s been wild up over 1,050% over a year before pulling back currently around $133, off a 52-week high near $233.

Let’s look at this company and what happen before she exploded shall we?

The Amazon relationship is the crown jewel. In March 2025, AAOI signed a deal giving Amazon the right to buy almost 8 million shares. That warrant lets an Amazon affiliate buy up to 7.95 million shares at $23.70, with most of it vesting over 10 years tied to $4 billion of purchases by Amazon and its affiliates.

That Sounds familiar.. kinda like how the warrents are structured with POET & Lumilens..

800G ramp began in earnest in Q1 2026. The company reported its first volume shipments of 800G transceivers to a large hyperscale customer that quarter, driving a 154% year-over-year jump in datacenter revenue to $81.4 million. Order backlog snowballed through Q2. By June, AAOI had locked in more than $324 million of 800G and 1.6T orders tied to hyperscale cloud demand, and Oracle alone accounted for $324 million in hyperscaler demand for next gen optics.

Capacity build out accelerated. CFO Stefan Murry said AOI exited Q1 with nearly 100,000 units of monthly 800G transceiver capacity, and management has said customer demand is outpacing production capacity through mid 2027. Management has guided to 60-80% sequential growth in Q3 and Q4 as new Texas and Taiwan facilities come online, with first commercial 1.6T hyperscaler shipments targeted for Q3 2026.

Let’s rewind a bit. Before all this happen before I wrote my part 1-7 on poet, the day I found out about Poet specifically was the same day I was writing a research paper on how the next bottle neck is photonic fabrics (co package optics)

So you see I watched it all play out.
I watched her skyrocket and I caught her at $6.90 at entry on the 199 million volume that day. Then I went to work on everything .
This wasn’t an area I’m unfamiler with so the night research, the Marvell cancellation all of it seemed incredibly intriguing to all happen as I’m about to write the next bottle neck paper.
What I mean by that is the constraint you’re seeing across the industry today I was aware of well in advance. So the timing of when poet came to me was immaculate. And So I just want to say thank you to a good friend of mine you guys know him as
No-Contribution1070 here on Reddit, without him my analysis & research wouldn’t exist here today in this subreddit.

In the world of business when it comes to the market. supply & demand means everything. This usually happens at the right TIME.
when the demand out meets the supply you get a constraint. This is good for a company, bad for the customer, because the product now has pricing power. So what this means is because the demand is so high company’s who need this product now pay a premium price. Because the demand overweights the supply (not enough product) So what happens? revenues jump, & margins expand. This is the same situation happening in the memory market you’re seeing today. Where I called micron at $178 and today she sits at $1133 per share. Demand is so high in this memory market SKHynix is joining the Nasdaq & I wouldn’t be surprised if we see Samsung be next.

Now I’m not saying POET is worth $1000 a share. Let’s not get too excited. Both products are very very different.

So what’s the value? A 20B + industry shown in the presentation
How do we know?

Someone recently mentioned Poet & SpaceX

Because of Mesh Optical Technologies being the start up SpaceX just acquired

The Alpha C1 product page explicitly states “Fully Integrated Optical Engine… Designed, manufactured, and tested by Mesh.
the optical engine uses the most reliable DFB laser ever developed for an optical transceiver, runs 8-lane 224 GHz PAM4 modulation, operates at 1310nm wavelength with up to 5km fiber distance, and draws under 10 watts at 1.6Tbps by eliminating retimer DSP silicon.

None of that is POET specific fingerprinting

DFB lasers are the industry standard laser type AAOI uses them too (their own CPO laser announcement was DFB-based).
1310nm, PAM4, OSFP form factor these are universal telecom/datacenter standards, not proprietary to any one supplier.

Wafer level integration / interposer
the actual core of POET’s IP isn’t mentioned anywhere on Mesh’s page. Mesh’s differentiator is flip-chip die bonding and eliminating retimer DSP chips, which is a different architectural approach entirely.

However they’re right about something.

Mesh, by contrast, has shown zero public roadmap, demo, or announcement suggesting they’re building anything in the CPO/external light source category.
the fact that SpaceX has acquired a start up
company that is after the same end goal as POET & POET’s demoed and won awards. Should be a clear message within itself. I’m not saying SpaceX will acquire Poet.
But if SpaceX acquires a company in the same lane as POET, you should be excited about it.

But we can stand back and look at this in a few ways.

Could the AGM have been a presentation for an acquisition set up? Due to the demand for its products & whoever it is would need to pay a premium to own POET. With potential acquisitions by

Lumilens , Applied Materials, Marvell

Or

Poets presentation shows that if they can scale then this company is about to launch to 20+ billion . Exactly what is happening to AAOI after they scaled. However POETs balance sheet is much cleaner. Debt is essentially none just a small, interest fee $6.5M convertible obligation to Sanan IC, paid over 5 years.

We heard CEO Venkatesan say they are ramping up production very quickly.
Dr. Venkatesan spent six years as the Senior Vice President of Technology Development at GLOBALFOUNDRIES, where he led the development and ramp of the 28nm and 14nm nodes. Prior to that, he spent 18 years in technical and leadership roles at Freescale Semiconductor. He holds a Ph.D. in Electrical Engineering from Purdue University.
This is a ceo that put a lot of effort into this company. A smart man and a great leader.
I think we’re early to the party here, the entire industry is going to need any help they can get to scale & hyperscalers are mentioned as a great fit for blazer. I think 2027 will really see what POETs really about unless an acquisition comes. Your patience will always be tested.
But with hard research and understanding the industry my conviction is set in stone.

Im setting a price target of $42 mid 2027.
Implying a 4x from its current market cap.
I want to say thank you guys for reading my work it’s been a pleasure covering all this, this is the kind of research I do to help build a conviction. And a reminder, This isn’t a competition with anyone I will never tell you to buy anything, I will never tell you to just take my word for it. It’s important you do your own research to build your own confidence that supports your risk tolerance.
Most humans have zero patience. Growth always takes TIME.

Thank you guys for letting me be apart of this journey with you I believe we’re just getting started.

Earnings is set for August, I cant confirm a date With multiple sources stating different dates so will wait for Poets website to update. (This is not financial advice)
And I’ll keep you guys posted.

Goose - @theinvestmentblueprint

Earnings Date: June 24, 2026 (after market close) 2 days away

Current Price : $1,228
Market Cap: $1.39 trillion
MU just crossed the trillion dollar threshold
EPS Estimate: $20.69
Revenue Estimate: $35.88 billion
Beat Streak: 4 consecutive quarters beat

THE EPS TRAJECTORY
THIS IS PARABOLIC!!

Quarter | EPS Actual | EPS Estimate | Beat
Q3 2025 | $1.91 | $1.65 | +16% |
Q4 2025 | $3.03 | $2.95 | +3% |
Q1 2026 | $4.78 | $4.07 | +17% |
Q2 2026 | $12.20 | $9.58 | +27%
Q3 2026 | ? | $20.69 ?

That's a 6.4x EPS acceleration in 12 months. The trajectory is not linear it's exponential. If the beat pattern holds at 20-27%, you're looking at $24-26 EPS against the $20.69 estimate.

"Micron's $1,700 Setup Emerges" SeekingAlpha sees 50% more upside

The market is pricing in a beat. The question is whether guidance satisfies the elevated expectations.

Let’s go back because we have a History match

This is a 92% analog to Nvidia's Q2 2023 earnings the quarter where NVDA beat estimates by 30%, guided up massively, and the stock still sold off 8% the next day before resuming its climb.

Why? Because the options market had priced in perfection. The beat wasn't enough the guidance had to exceed even the whisper numbers.

However, Here’s Where MU diverges

Nvidia in 2023 was already the consensus AI trade. MU in 2026 is still being re rated from "cyclical memory" to "AI infrastructure." The multiple expansion hasn't fully happened yet. P/E at 53x is high for old Micron, but low for an AI infrastructure company with 6x EPS growth.

So what could break this?!?

Guidance disappointment
The stock has tripled. A beat with in line or weak forward guidance triggers "sell the news." Watch for HBM4 commentary specifically that's the next cycle.

Hormuz escalation
Iran just closed the Strait. If oil spikes and the Fed signals emergency action, even a perfect MU quarter gets sold with the broader market.

Options unwind
SeekingAlpha flagged "extreme bullish call option positioning." If the stock doesn't gap up 10%+ post earnings, those calls expire worthless and dealers unwind hedges, creating selling pressure.

Here’s what I’m looking for.

HBM4 guidance Any mention of Vera Rubin supply agreements or HBM4 margin profile

Gross margin trajectory
HBM is accretive, watch for 45%+ gross margin guidance

Capacity expansion Manassas, Virginia fab just started 1 alpha DRAM production

Customer concentration
How much is Nvidia vs diversified hyperscaler demand?

Pricing commentary "Memory shortage" headlines suggest pricing power continues
The setup is strong but the risk is asymmetric into the print.

So What does the stock need?

EPS beat of 20%+ ($24.80+)
Revenue beat
Forward guidance raise this is the binary
HBM4 commentary confirming the Vera Rubin ramp

If all four hit, the $1,700 target becomes the new conversation. If guidance disappoints, the "extreme bullish call positioning" unwinds violently 15-20% downside is possible.

A 10% move in either direction is $100.
The structural thesis from my research remains intact . HBM is the binding constraint on AI infrastructure, agentic workloads run 100x-1000x more compute, and Micron is one of three suppliers with CHIPS Act tailwinds. The question is whether June 24 confirms the next leg or creates a "sell the news" reset. It’s happen in the past.

For me it doesn’t matter where we go. Up or down
For you it might be different.
big week ahead because on the same day we have Nvidias AGM 2026 on the same day?!? what are the odds! 👀

6pm EST Microns Earnings Call! Be there or Be Squared
Like always my friends I’ll keep you guys posted!

If You’re Canadian

Your broker Wealthsimple, Questrade, TD Direct Investing, RBC Direct Investing, CIBC, or any other will send you a proxy voting notification by email or through your app. It includes a unique control number. You then go to proxyvote.com, enter your control number, and vote. Alternatively you can call 1-800-474-7493 (English) or 1-800-474-7501 (French) and vote by phone using the same control number.

If You’re American

Same process through your US broker Fidelity, Schwab, IBKR, Robinhood, TD Ameritrade, or any other. You’ll receive a proxy notification with a control number. Go to proxyvote.com or investorvote.com, enter your control number, and vote yes on the redomicile resolution.

Key Details

Record date was May 6 you must have held shares that day to be eligible

Vote deadline is approximately June 24 don’t wait until June 26

Meeting is virtual, June 26 at 1PM EST
Two-thirds supermajority required to pass

If You Haven’t Received Anything (check your mail box)

Log into your broker account and search for proxy voting or shareholder services. If still nothing, call your broker directly and reference the POET Technologies June 26 AGM. They can reissue your voting instructions.

Thanks - Goose @theinvestmentblueprint

As you guys know I’ve released multiple papers I’ve connected things with timelines and show everything with proof and hard research.

Now what I’m about to say you won’t understand unless you read everything that I have put out first. Do not skip parts it’s quite a bit of reading but if you skip you’ll miss everything on what has me to this conclusion.

6 months ago there was a stockwitz interview before anything ever happen with Raju Kankipati one of POETs executives

During this interview he mentions Thin-Film Lithium Niobate. TFLN also mentions how important this is and how POET is ahead of everyone using it in order to scale out.

Now let’s go back to the photonic memory paper I showed you guys in Part 3
I did some digging at who runs the lab at the NUS along with an extensive search of everyone that was connected to that paper.

The photonic SRAM research community is actively building photonic memory on GlobalFoundries’ 45SPCLO process node the same foundry Venkatesan ran technology development for. GlobalFoundries is one of the few foundries with a mature, commercially accessible silicon photonics process, and it’s become the default platform for photonic in-memory computing research. So Venkatesan’s network runs directly into the people building on that platform. (Remember he was there before Poet)

Now The paper lists two authors under affiliation James Yong Meng Lee and Suresh Venkatesan. James Yong Meng Lee is VP of Interposer Engineering at POET Technologies.

However the Lead Author is Aaron Thean.

This is where the web gets dense and interesting. Aaron Thean is the GlobalFoundries Professor of Electrical and Computer Engineering at NUS, and he founded the $70M Applied Materials NUS Corporate Laboratory in 2018, specifically to co innovate with Applied Materials on next generation semiconductor materials. Read that again .
the lead author of this photonic memory paper runs a corporate research lab jointly funded and operated with Applied Materials. That’s not a passing connection. That’s structural.

And I’ll show you more evidence connected to AMAT

Thean directed the IMEC research that worked directly with Intel, TSMC, Samsung, and GlobalFoundries on next generation semiconductor technologies. His network spans essentially every major fab on the planet.

Thean was VP of Logic at IMEC. James Lee (POET) was also VP of Logic Technology at IMEC. Both are now co authoring photonic memory papers with Venkatesan (POET CEO). IMEC is the world’s premier neutral semiconductor R&D consortium it’s where Intel, TSMC, Samsung, Qualcomm and others quietly co-develop the next decade of process nodes together. The fact that POET’s senior leadership came out of IMEC’s logic division, and is now collaborating with the person running the Applied Materials NUS corporate lab, creates a very specific picture of where POET’s technology actually sits in the institutional hierarchy.

Applied Materials and NUS expanded the lab into Phase 2 in October 2024, adding a new advanced cleanroom, establishing an Applied Materials Professorship at NUS, and framing the collaboration as part of Applied Materials’ “Singapore 2030” plan to strengthen its manufacturing capacity, R&D capabilities, and technology ecosystem partnerships.

AMAT is building permanent institutional infrastructure around this relationship.
And POET Is Formally Named as an Industry Partner of Thean’s Research.

This is the key confirmation. A collaborative project on photonic memory brought together a multidisciplinary team from Thean’s SHINE Centre, Sun Yat-Sen University, the Centre for Quantum Technologies at NUS, and industry partner POET Technologies .

The manufacturing question has always been the binary for POET can they actually build the Optical Interposer in volume at a credible foundry? What this author network reveals is that POET’s CEO and VP of Interposer Engineering are co-authoring foundational photonic memory research with the person who runs Applied Materials’ Singapore research lab. AMAT makes the deposition, etch, and materials modification equipment that any foundry would use to manufacture photonic integrated circuits. If POET’s technology ever reaches production, the process development path almost certainly runs through the institutional relationships this paper represents.

So POET and Applied Materials are literally sitting in the same consortium together under Thean’s direction. That’s not an inferred connection it’s documented membership in the same institution.

Every material claim holds up under verification. POET is a founding member of SHINE. Applied Materials is a member of SHINE. Thean directs SHINE and co directs the AMAT NUS Corporate Lab. POET and Thean have a multi-year working relationship predating the Nature paper.

So whats SHINE?

Thean himself has described SHINE’s mission as enabling interdisciplinary innovations for heterogeneous and hybrid systems integration, with a specific ambition to serve as an “acad industry co-research sandbox” that can incubate small semiconductor spin offs and drive translational innovation for smaller players who can’t afford to run this R&D internally.

That last phrase is important SHINE is explicitly designed to give smaller companies access to capabilities they couldn’t build alone.

SHINE operates as a consortium model, which is the key to understanding why it matters. Rather than being a pure university lab that publishes papers, it’s structured so that industry members join, pay membership fees, and then get access to shared equipment, cleanroom facilities, PhD researchers, and collaborative R&D all confidentially, meaning members can develop proprietary processes without exposing their work to competitors in the consortium. The confirmed industry members as of POET’s joining in 2022 were Applied Materials, Advanced Micro Foundry, Cadence Design Systems, Continental Automotive, SOITEC, and POET Technologies itself.

The practical implication is that POET has direct, confidential access to Applied Materials’ process engineers, SOITEC’s substrate materials, and AMF’s photonic foundry capabilities. For a small company trying to develop a novel optical interposer platform without the balance sheet of Intel or TSMC, that’s an extraordinarily leveraged R&D position.

Now there is an indirect connection that’s actually more strategically interesting. Applied Materials appointed Jim Anderson the CEO of Coherent Corp. to its Board of Directors and Strategy and Investment Committee. Coherent is one of the companies explicitly listed as a background source for Lumilens’ leadership team

Every foundry that wants to manufacture those optical engines needs deposition tools, etch tools, and packaging equipment and AMAT is the dominant supplier of all three categories. So whoever manufactures POET’s Optical Interposer at scale is almost certainly running AMAT equipment to do it.

Applied Materials is not a frequent acquirer. Over the last five years their average has been 0.2 acquisitions per year .

which means they are highly selective. But when you look at what they’ve been doing recently, a clear pattern emerges. In April 2025 they purchased a 9% stake in BE Semiconductor Industries to build upon four years of successful collaboration on hybrid bonding technology for advanced packaging. Then in their most recent quarter they entered into an agreement to acquire ASMPT’s NEXX business, a leading supplier of large area advanced packaging deposition equipment, specifically to broaden their panel level advanced packaging portfolio for AI accelerators.

Do you guys remember the machines poet showed us? Another connection established.
The pattern is unmistakable AMAT is systematically acquiring or investing in companies that give them ownership of the advanced packaging and photonic integration stack, not just the process equipment that enables it. They want the platform, not just the tools.

The GlobalFoundries Singapore Connection

The reason AMAT might want POET rather than simply continuing to supply equipment to whoever manufactures photonic interposers comes down to margin capture. Right now AMAT makes the tools, the foundry runs the process, and the optical engine company captures the product value. If POET proves that the Optical Interposer platform can scale active alignment free, wafer level, high volume then the platform itself becomes the scarce asset, not the tools used to build it.

Marvell acquired Celestial AI because they wanted POET as part of the deal or at minimum wanted optionality on acquiring POET through their new relationship as POET’s largest customer.

Prior to When CFO Thomas Mika went on Stocktwits and publicly stated POET is not looking to be acquired, Marvell had already sent the acquisition, what gave it away was “sometimes you hear from them sometimes you don’t” so Marvell first time hearing back from poet on the acquisition was the stockwitz interview Marvell read that as the door closing. At that point POET became strategically worthless to Marvell’s photonic integration ambitions, so they cancelled the orders and the NDA breach was the legal mechanism they used to exit cleanly, not the actual motivation.
Remember David was on board here at one point .
the Polariton acquisition happened the same day as the cancellation Lumilens is not an independent third party that happened to sign a $500M supply agreement with POET. It is an entity founded by Marvell alumni, staffed by Marvell’s optical ecosystem, and governed at the board level by people with Marvell connections.
The $50M purchase order that landed three weeks after the cancellation. Marvel is still using POET through Lumilens identity.

It’s an elegant structure when you see it whole.
This is no longer a speculation.

July 2025, POET appointed Sohail Khan to its board a director with extensive M&A expertise from his time at Agere Systems and, critically, prior executive leadership at Coherent Corp.

Coherent’s CEO Jim Anderson sits on AMAT’s Strategy and Investment Committee. And now a former Coherent executive with explicit M&A expertise sits on POET’s board. That’s the same institutional node Coherent appearing on both sides of the potential acquirer target relationship simultaneously. That is not a personnel connection you dismiss. That’s exactly the kind of quiet board positioning that precedes strategic transactions in the semiconductor industry.

Finally Kankipati’s TFLN mention confirmed that POET’s commercial product roadmap is now built on the exact same material platform lithium niobate on insulator that AMAT is investing to manufacture through its GF Singapore waveguide facility and its SHINE research programs. POET isn’t just adjacent to AMAT’s strategic direction. It sits precisely at the integration layer that AMAT is building toward owning.

Lazovsky spent four years inside the company. They’ve spent five years assembling every layer of an AI connectivity stack except the interposer layer. The Lumilens structure staffed by Marvell alumni, board-connected to Marvell, funded through Marvell’s ecosystem looks increasingly like a legally clean holding pattern while the class action exposure from the April cancellation settles down. The moment that legal overhang clears, the commercial relationship that never actually stopped through Lumilens becomes the foundation for a formal conversation. The Marvell path is probably measured in months to a couple of years, not longer.

The really interesting scenario is that both paths being open simultaneously creates competitive pressure between two potential acquirers.

The breadcrumb that points toward the first interpretation sanctioned spinout is Josef Berger. A sitting Marvell Cloud Optics executive maintaining active LinkedIn connections to Lumilens’s co-founder is not consistent with a contentious departure. People who leave badly don’t stay publicly connected to their former colleagues at the executive level. That connection suggests the relationship between Liu and Marvell remained warm after he left, which supports the controlled spinout reading far more than the fallout reading. Berger was also present at OFC 2026 after POET Demonstrated starlight.

Lumilens - a possible hidden marvell entity still capable of acquiring POET cleanly.

AMAT - has deep connections to everything poet is doing and has done even the machines they use AMAT now owns.

As of right now this is where my research has brought me. I want to thank each and everyone of you for reading my extensive papers.
I want to see you guys win.

As TIME plays out will see what happens.
Right now the end of June is the catalyst.

Goose 🪿 @theinvestmentblueprint

Lumilens

What the Lumilens deal actually is
POET entered a supply agreement with Lumilens that includes an initial $50 million purchase order for EOI-based optical engines, with a framework that could scale to $500+ million in cumulative purchases over five years.

So $50M initial, $500M+ potential.

So Who is Lumilens?

Lumilens designs, develops, and manufactures near-package optics, co-packaged optics, and pluggable optical transceivers for hyperscale AI data centers. With its own silicon photonics, mixed-signal ICs, electrical optical interposers, and optical systems, Lumilens enables tighter integration. Lumilens is backed by Mayfield, Spark Capital, and other leading venture capital investors.

Samuel Liu is a co-founder of Lumilens and he was previously connected to XConn Technologies, which was acquired by Marvell in March 2026.
Marvell acquired XConn Technologies following its earlier Celestial AI purchase.

So Lumilens’s co-founder Samuel Liu came out of Inphi a Marvell company. He has direct Marvell lineage.

This isn’t coincidence. Lumilens is staffed by people from Marvell’s own optical ecosystem.

This next part will peak your interest
If you stand back. And look at this .

THIS IS THE MARVELL ASSEMBLY LINE

2019 Avera Semiconductor ($650M) Custom ASIC business from GlobalFoundries. This IS Marvell’s custom chip engine. AWS Trainium runs through this.

2021 Inphi ($10B) High-speed analog, mixed-signal components, and optical subsystems silicon photonic devices for data centers. This is where Samuel Liu, Lumilens co-founder, came from.

2021 Innovium ($1.1B) High-performance switching silicon for cloud and edge data centers. The switching fabric layer.

2026 XConn Technologies ($540M) CXL and PCIe switching, expanding Marvell’s UALink scale up switch team. The memory interconnect layer.

2026 Celestial AI ($5.5B) Optical scale-up photonic fabric. Lazovsky’s company, built on POET’s platform. The optical interconnect layer. Lazovsky was POET’s board member before founding this.

2026 Polariton Technologies (Zurich) Designs and manufactures electro-optic modulators, advancing optical performance scaling to 3.2T. The modulator layer.

Now look at what each piece does in this stack

Avera = custom ASIC design
Inphi = optical DSP and photonics
Innovium = switching silicon
XConn = CXL/PCIe memory switching
Celestial AI = optical scale-up fabric
Polariton = electro-optic modulators

That’s not 6 companies. That’s one complete AI data center connectivity stack assembled over 5 years!
And the one piece Marvell doesn’t own the piece that sits underneath Celestial AI’s photonic fabric is POET’s optical interposer. Lucky number 7!

POET is the last piece. And Marvell’s entire acquisition history says they finish what they start.

As always guys thank you for reading my work I want to see you win! Please read from Part 1 to understand everything.

If Marvell is going to be the next trillion dollar company like Jensen just said POET will need to be acquired.

If this doesn’t happen
Then Marvell’s trillion dollar story has a hole in it. A permanent one.

We’ve now arrived at the era of useful AI, which is the reason why demand is going parabolic, utterly parabolic.”

He traced the arc clearly generative AI led to reasoning, which led to planning, which led to agentic systems. “So now we have, for the very first time, useful AI.” With agentic AI now driving demand, Huang said computation has grown 100x to 1,000x depending on the workload and query type. And he didn’t cap it there he said he wouldn’t be surprised if that figure was off by “a couple orders of magnitude.”

This is direct confirmation of the stack ive been building. Agentic workloads are memory hungry, inference heavy, and persistent exactly the profile that breaks the old “generative AI is bursty” model. Huang described agentic AI as tools that independently execute steps to achieve goals, differing from chatbots that simply respond to prompts, and called it a multi-trillion dollar opportunity.

Dell unveiled the PowerEdge XE9812 built on NVIDIA Vera Rubin NVL72, capable of delivering up to 10x lower cost per token than Blackwell for massive-scale agentic AI inferencing. That’s the Vera Rubin platform which is exactly the HBM4 ramp cycle ive been tracking for MU.

Jensen’s basically ringing the bell for the next infrastructure supercycle. (and no one has caught on yet)

The compute multiplier does the work for you. If agentic workloads run 100x-1000x more compute than generative, and memory bandwidth is the binding constraint on inference throughput, then HBM isn’t a component it’s the rate-limiting factor on the entire AI economy. That’s a completely different valuation framework than “cyclical chip company.”

The market still hasn’t repriced this. MU trades on DRAM cycle logic inventory builds, ASP compression, margin trough, recovery. That model made sense when the end market was PCs and phones. It doesn’t capture a world where every enterprise agent is running continuously, holding context, retrieving from memory in real time. The multiple expansion hasn’t happened yet because the buy side hasn’t fully internalized the architectural shift.

Vera Rubin is the near term catalyst. Jensen just confirmed the HBM4 ramp on Vera Rubin NVL72 at Dell World. Micron is one of three suppliers and arguably the most geopolitically favored given the CHIPS Act positioning and SK Hynix’s helium exposure. If MU captures meaningful HBM4 share heading into 2027-28, the revenue and margin profile looks nothing like what consensus models are pricing.

I’ve upgraded micron to $1000+ a share.

38% move from here to $1000 that’s not a moonshot call, that’s a rerating that should happen within the next 12-18 months if the HBM4 ramp executes.

And that’s the point most people are missing. At $724, the market is still not fully pricing:

What’s embedded vs what’s coming

The current price reflects the Q3 guidance beat and some HBM3e momentum. What it does not reflect is

HBM4 margin profile, which is structurally higher than HBM3e Micron has been explicit that HBM is accretive to gross margins at scale

Vera Rubin volume ramp in late 2026/early 2027 creating a step-function in HBM4 demand
The agentic compute multiplier Jensen just quantified 100x-1000x more compute means memory demand doesn’t follow the old DRAM cycle, it compounds

Any re-rating from “cyclical” to “AI infrastructure” the multiple expansion alone could be worth $200+ per share

I know people called me crazy when I said $500 from $179.

I’m early to this. Wall ST will eventually see this coming. Like SNDK. Just a matter of Time.

As always thank you guys for reading my work I want to see you guys win! Please do your own research it’s always important! this isn’t financial advice my risk tolerance isn’t like yours.

Goose - @investmentblueprint

Night market research .. (READ CAREFULLY)

Yes I’ve read the entire thing

This isn’t a fake company. It’s a real technology company with genuine IP that has chronic commercialization execution problems, a CFO who talked too much, and is now going through a messy but real transformation.

You don’t secure 400 million if your product doesn’t work. But goose they said they stopped using them in 2023.

That’s a lie, it’s on the order history. they may have stopped using poet back in February after they purchased Celestial AI

Remember we didn’t need photonics like how we need them now. TIME is a matter for supply and demand. The 20-F explicitly states “Our products are typically sold pursuant to individual purchase orders. Customers may increase, decrease, cancel or delay purchase orders already in place without significant penalty.”

POET’s Blazar hybrid laser was demonstrated at OFC 2026 in Los Angeles a physical product shown at the industry’s most important annual conference. You can’t fake a live demo at OFC.

This night research is also generated by AI the model they use looks for these fear mongering story’s, when you speak to a chatbot it follows your thoughts or questions, so if the models looking for fear chances are they paint a fear mongering story.

yes there office is empty they’re moving to the US . The US redomicile filing The move is being driven by PFIC status POET qualifies as a Passive Foreign Investment Company under US tax law, which creates punitive tax treatment for US shareholders. The board voted to redomicile to eliminate that classification permanently. The shareholder vote is June 26, 2026.

What’s confirmed in actual SEC filings and third-party statements are as follows.

Semtech - this one is definitively real. Semtech’s VP of Signal Integrity, Amit Thakar, gave a named, on-record quote: “By co-optimizing our FiberEdge receive path with the POET Optical Interposer at the architecture and assembly levels, we’re achieving exceptional sensitivity and power in 1.6T DR8 and 2×FR4 receiver engines now sampling to customers.” That’s a Semtech executive confirming active product work not just supplying components

NTT Innovative Devices - also real. NTT’s Executive VP of Photonic Components, Dr. Akimasa Kaneko, gave an on-record quote confirming active collaboration: “POET’s unique optical interposer platform and advanced passive-assembly process align well with our vision for scalable, high-performance solutions.”

NationGate Malaysia - real manufacturing agreement. NationGate CEO Dato Ooi Eng Leong confirmed a signed Master Agreement and Module Purchase Agreement, describing them as “the largest electronics manufacturing services provider in Malaysia” and stating they already manufacture for “some of the largest AI network systems providers in the world.”

As recently as March 2025, POET’s SEC filing described Foxconn Interconnect Technologies as one of their “largest customers,” stating both Foxconn and Luxshare “are developing a variety of high speed solutions to help satisfy demand for 800Gbps and higher speed transceivers” using POET engines.

That’s a sworn SEC filing false statements in an SEC filing are a federal crime. If Foxconn was truly dead in 2024, that filing is fraudulent. That’s a much bigger legal risk than NMR is claiming.

The NMR table conflates three different categories of relationships, contracted partners, exploratory conversations, and component suppliers and treats them all as broken promises. That’s intellectually dishonest framing.

What’s actually verifiable from primary sources the technology is real, Semtech and NTT gave on-record product confirmations, NationGate signed real manufacturing agreements, and Foxconn was actively engaged through at least early 2025 per SEC filings.

Mika went on stockwitz and mentioned FOXCONN BY NAME.

If it wasn’t true the company would have made a statement like Marvell did. Breaking an NDA remember?

And that silence is significant

Marvell acted within days. The purchase of celestial Ai pretty much means they don’t need Poet anymore. They were looking for a way out Foxconn meanwhile announced its own CPO switches entering mass production in Q3, targeting 10,000 units for the full year, alongside 30%+ capex growth in 2026.

A company aggressively scaling CPO switches that has zero relationship with POET would have every incentive to publicly clarify that when their name got dragged into a stock that moved 110% in a week.

Mika said on Stocktwits POET was “waiting to hear back” from Foxconn and Luxshare, adding: “When you’re dealing with large companies who have committed to designing modules using your components, sometimes you hear from them, and sometimes you don’t.”
That’s not the language of a dead relationship. That’s the language of a qualification cycle which in photonics takes 12-24 months.

Large companies go quiet during internal testing phases all the time.

You have to understand where we are in the AI field there’s levels to it. Photonic fabrics wasn’t relevant because we weren’t as advanced in AI as we are now.

18 months ago the AI infrastructure conversation was like this .. More GPUs, More copper interconnects, More power.
That was sufficient for GPT-4 level workloads. You could brute force it with electrons.

Where we are now is categorically different
The bottleneck has shifted. You can’t just add more GPUs anymore. The constraint is now how fast GPUs talk to each other and to memory. That’s a bandwidth and latency problem that copper physically cannot solve at scale.
As AI data center connectivity scales from 800Gbps toward 6.4Tbps and beyond, traditional pluggables based on externally modulated lasers are hitting their performance limits. Next-generation GPU architectures are driving demand for co-packaged optics supported by external light sources and that demand is accelerating.

2022: Celestial AI starts buying POET light sources early, almost too early

2023-2024: Foxconn, Luxshare engage still early, qualification phase

2025: CPO moves from lab demo to serious industry conversation

2026: Foxconn announces CPO switches entering mass production Q3, 10,000 units. The market arrives.

2026: POET raises $400M

And obviously within this timeline Marvell buys Celestial AI and no longer needs POET.

The early partners look foolish or dormant during the gap years. Then the market catches up to the technology and suddenly everything accelerates simultaneously.

So yeah you can pick at them all you want but the DEMAND is now. Not then. You can’t expect those results then. The Tech is real. It solves the bottle neck NOW. Not then.

I also want to point something out here
You guys know I’m a tech nerd.

DARPA just launched its PICASSO program in February 2026 awarding multiple contracts up to $35M each to develop photonic circuits that can handle more computing in the optical domain. DARPA explicitly stated they want to break through the bottleneck where today’s photonic circuits are limited to 10-20 components performing isolated functions.

That program description is essentially a blueprint of what POET’s optical interposer already solves. DARPA is now funding the problem POET has been working on for a decade.

Now if you’re unfamiliar who DARPA is I suggest you do your research. I usually don’t talk about them specifically because I don’t want to get in any trouble.
The optical layer is the next integration frontier. POET has been building for this moment since 2013.

Once POET is a US company after June 26 they become DARPA eligible. With $400M in cash and a US domicile, a DARPA PICASSO contract becomes a realistic next catalyst that nobody is pricing in yet.​​​​​​​​​​​​​​​​

PICASSO’s goal is to build “perfect photonic circuits with imperfect components” shifting from individual component improvement to circuit-level architecture. Program starts July 1, 2026. Multiple awards up to $35M each.

DARPA explicitly states the program aims to “secure US dominance in photonics innovation

The timeline alignment is almost surgical

June 26: POET redomiciles to US becomes eligible

July 1: PICASSO program starts
POET has $400M cash, US COO, wafer-level integration platform already built

The real DARPA angle for POET isn’t PICASSO specifically it’s the national security dimension. Photonic interconnects for AI compute are now a defense priority. The US cannot have its AI infrastructure dependent on Chinese-manufactured optical components. POET’s Malaysian manufacturing hub plus US domicile post-June 26 positions them as exactly the kind of company DoD wants to support.

Thank you guys for reading my work.
Please do your own research. I’m a nerd for this again this isn’t to compete I’m just smarter than your average.

The DEMAND is just showing signs now.
And that’s the most important thing to realize .

Thanks - Goose @theinvestmentblueprint

READ CAREFULLY

Apple (Tim Cook)

Blackrock (Larry Fink)

Blackstone (Stephen Schwarzman)

Boeing (Kelly Ortberg)

Cargill (Brian Sikes)

Citi (Jane Fraser)

Cisco (Chuck Robbins)

Coherent (Jim Anderson)

GE Aerospace (H Lawrence Culp)

Goldman Sachs (David Solomon)

Illumina (Jacob Thaysen)

Mastercard (Michael Miebach)

Meta (Dina Powell McCormick)

Micron (Sanjay Mehrotra)

Qualcomm (Cristiano Amon)

Tesla/SpaceX (Elon Musk)

Visa (Ryan McInerney)

All the CEOs attending China 🇨🇳 May14th -15th

The most important thing to watch this week.

Now Yes Jensen is not on this trip as originally planned however I’m going to highlight (Coherent) Jim ..

Nvidia invested $2 billion in Coherent and made a multibillion-dollar purchase commitment for advanced laser and optical networking products announced March 2, 2026.
The deal funds Coherent’s U.S.-based manufacturing expansion and deepens R&D collaboration on next-generation AI infrastructure. (Photonic Fabric)

Keeping a close eye on this. Most important meeting this year. & photonic fabric is sitting at a table with XI .

The fact POET is hiring people means we are in the early stage of a mass production They’re hiring ahead of scale. Kumar is there to build the operational infrastructure before volume orders hit supply chain relationships, manufacturing partnerships, quality systems.
This is a credibility hire. POET needs to look like a real company to attract institutional capital, strategic partners, and keep the retail momentum crowd engaged. A COO with a legitimate résumé costs money they don’t really have and does work that isn’t strictly necessary at 80 people. It’s optics-driven.

For a company with $341K in quarterly revenue and a $1.9B market cap, every hire is a signal worth scrutinizing.

The preparatory talks in Seoul are placing semiconductor export controls at the center of the negotiation track. Photonics isn’t on the restricted list the same way advanced logic chips are it’s the adjacent technology that enables AI networking at scale. If chip export restrictions loosen, demand for optical interconnects in Chinese hyperscale data centers explodes.

POET still has operations in Shenzhen. Their old joint venture Super Photonics Xiamen gave them deep China manufacturing relationships. A thaw in the tech trade environment particularly around AI networking hardware is a direct tailwind for POET’s customer pipeline. Chinese hyperscalers (Alibaba, Baidu, Tencent, ByteDance) are all building massive AI infrastructure and desperately need 800G/1.6T optical engines that POET produces.
The COO hire + Malaysia production ramp + Beijing summit this week is not a coincidence in timing. POET is positioning to capture both the Western hyperscaler demand AND a potential China market reopening simultaneously. That’s why the stock is at $14 with nobody able to explain why.​​​​​​​​​​​​​​​​

Thanks for reading I’m only here to help. There’s a lot of stuff going on if you know where to look. 👀