POET Streamlines its Global Engineering Organization in Response to AI Market Demand

Core Viewpoint - POET Technologies Inc. is reorganizing its engineering team to enhance efficiency in response to increasing customer demand for high-speed optical products aimed at AI systems and hyperscale data centers [1][4]. Group 1: Reorganization Details - The company has established a Global Engineering Organization in Singapore, led by Dr. Mo Jinyu, to better serve customers primarily located in Asia [2]. - Engineering design and manufacturing functions will be transferred from Allentown, PA to Shenzhen, China, with other functions moving to Singapore [3]. - The closure of the Allentown facility is expected to yield annual savings between US$1.8 million and $2 million, with one-time costs around US$250 thousand [3]. Group 2: Market Focus and Product Development - POET focuses on high-speed optical modules and engines for AI systems and hyperscale data centers, utilizing its patented Optical Interposer technology [5]. - The company anticipates that recent partnerships will lead to module designs qualifying with end users, converting to optical engine revenue in late 2024 and into 2025 [4]. - POET's products are designed to address bandwidth and latency challenges in AI systems, with applications extending to 5G networks and autonomous vehicle technologies [5].