POET drops sharply after Marvell cancels Celestial AI orders, Stock Talk Weekly reports

POET drops sharply after Marvell cancels Celestial AI orders, Stock Talk Weekly reports
POET drops as Marvell ends Celestial AI orders

Stock Talk Weekly, industry influencer, reported that POET Technologies shares fell more than 40% after Marvell Technology canceled all purchase orders related to Celestial AI, including initial production orders first disclosed in 2023.

According to POET, the cancellation was attributed to alleged breaches of confidentiality. Despite this setback, the company noted that it continues to serve other customers.

Shay Boloor has recently reported on shifts across technology and digital asset markets. In an earlier note, Boloor highlighted Opendoor’s acquisition of Doma’s closing and escrow business to improve automation in property transactions. Boloor also covered how Polymarket bettors are favoring $X as the anticipated ticker for a potential SpaceX IPO, with nearly $1.2 million staked on $SEX despite lower odds on the platform.

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