TORONTO, Oct. 16, 2024 (GLOBE NEWSWIRE) — POET Technologies Inc. (“CLOSER‘or the’Company” (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer™, Photonic Integrated Circuits (PICs) and light sources for the data center, telecommunications and artificial intelligence markets, has been named the winner of the category ‘Best in Artificial Intelligence’ at the prestigious Global Tech Awards 2024, announced on October 14. The honor is the third top award the company has received in 2024, following recognition by the AI Breakthrough Awards for “Best Optical AI Solution” and the gold award for “AI Innovator of the Year” from the Merit Awards.
POET Technologies was chosen as the Best in Artificial Intelligence category for “its innovative approach to powering AI networks and hyperscale data centers.” “POET’s commitment to improving the performance and scalability of AI infrastructure sets the company apart as an industry leader,” said Sirisha Lanka, Managing Director of the Global Tech Awards. Established in 2022, the award aims to “recognize and celebrate excellence in technology.” The judges included executives from companies such as Amazon, Microsoft and Oracle.
“We are thrilled to be recognized by industry experts who recognize the breakthrough nature and positive commercial impact of the POET Optical Interposer™ platform technology and the growing suite of products we are building from it,” said Dr. Suresh Venkatesan, POET Chairman & CEO. “Winning the Best in Artificial Intelligence award at the Global Tech Awards is another great indication of why an increasing number of leading companies in our industry are turning to POET for solutions that will help them increase their market share and assist them in developing new products that meet the demand for AI networks and data center connectivity.”
About POET Technologies Inc.
POET is a design and development company that provides high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and hyperscale data centers. POET’s photonic integration solutions are based on the POET Optical Interposer™, a new, patented platform that enables the seamless integration of electronic and photonic devices into a single chip using advanced semiconductor manufacturing techniques at the wafer level. POET’s Optical Interposer-based products are cheaper, consume less power than comparable products, are smaller in size and are easily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and higher) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and manufactured new light source products for chip-to-chip data communications within and between AI servers, the next frontier for solving bandwidth and latency issues in AI systems. POET’s Optical Interposer platform also solves challenges in device integration in 5G networks, machine-to-machine communications, standalone “Edge” computing applications and sensing applications, such as LIDAR systems for autonomous vehicles. POET is headquartered in Toronto, Canada, and operates in Allentown, PA, Shenzhen, China and Singapore. More information about POET is available on our website www.poet-technologies.com.
About Global Tech Awards
The Global Tech Awards is a prestigious platform that recognizes and celebrates the very best in technology. With a focus on innovation, creativity and excellence, the Global Tech Awards aim to identify and reward the most exceptional technology solutions and services from around the world. The awards are open to companies, organizations and individuals who create and deliver innovative technologies that drive progress and shape the future. If you are developing cutting-edge technology and want to showcase your achievements to the world, consider entering the Global Tech Awards today. www.globaltechaward.com
Forward-Looking Statements
This press release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified by words such as “anticipate,” “believe,” “expect,” “plan,” “intend,” “potential,” “estimate,” “propose,” “project,” “outlook.” , “anticipate” or similar words suggesting future outcomes or statements about a possible outcome. Such statements include the Company’s expectations regarding the success of the Company’s product development efforts, the performance of its products, the expected results of its operations, the achievement of revenue targets and the expectation of continued success in its financing efforts, equity, the functionality, performance and cost of the Company’s technology, as well as the market acceptance, incorporation and timing of the Company’s technology into current and future products and expectations regarding the successful penetration of the artificial intelligence hardware markets.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions that could cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, the size, future growth and needs of artificial intelligence network providers, management’s expectations regarding the success and timing for completion of its development efforts, new product introductions, financing activities, future growth, recruitment and selection. of personnel, reorganization efforts, planning for and completion of projects by the Company’s consultants, contractors and partners, availability of capital and the need to incur capital and other expenditures. Actual results may differ materially due to a number of factors, including, but not limited to, the inability of artificial intelligence networks to continue to grow as expected, the inability of the Company’s products to meet performance requirements for AI and datacom networks, the lack of sales in its products, lack of sales by its customers to end users, operational risks in the completion of the company’s projects, risks affecting the company’s ability to complete its products, the ability of the Company to generate sales for its products, the ability of its customers to generate sales for products incorporating the Company’s products, the ability to attract key personnel, the failure of its reorganization efforts, and the ability to raise additional capital if necessary. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, potential investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can give no assurance that such expectations will prove to be correct to be. . Forward-looking information and statements contained in this press release speak as of the date of this press release and the Company assumes no obligation to update or revise these forward-looking information and statements, except as required by law.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96c01282-3fb8-4e31-b9b1-b8c12e73564d
