POET Technologies shares sank more than 47% after Marvell Semiconductor canceled all purchase orders linked to Celestial AI. Marvell said the cancellation followed disclosure of confidential information, casting doubt on near-term revenue from that partnership. While POET continues focusing on its optical engine technology and other customer work, investors are watching how quickly it can replace lost orders.
Marvell shares rose after a report said it is in talks with Google to develop two AI chips. The Information, citing people close to the discussions, suggests Marvell could supply a memory processing unit to complement Google’s tensor processing unit, alongside a new TPU designed to run AI models. The report points to a potential expansion of Google’s custom AI hardware.
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