POET Technologies (TSE:PTK) has released an update.
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POET Technologies has reported a robust third quarter for 2024, highlighted by significant partnerships with Luxshare Tech and Mitsubishi Electric, alongside a new customer, Mentech. These strategic moves bolster its position in the rapidly expanding AI networking sector, despite a reported net loss of $12.7 million. The company’s financial position was strengthened by raising $25 million from private placements, aimed at sustaining innovation and long-term growth.
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