Markets
markets
Luke Kawa

POET Technologies surges after $50 million purchase order to launch partnership for new AI infrastructure

Shares of POET Technologies are soaring in premarket trading after the company announced a $50 million initial purchase order as part of a joint venture with Lumilens to develop new AI infrastructure.

Specifically, the two parties are aiming to deliver chip-level components that can speed the flow of information by translating electrical signals into photonics (and vice versa) — an Electrical-Optical Interposer.

The target audience is clear:

“Engineering samples from this joint development program are expected in late 2026, with production ramp aligned to hyperscaler customer deployments in 2027,” per the press release.

This initial order could scale to more than $500 million in cumulative purchases over five years, and also sees the privately-held photonics company Lumilens receive warrants that expire in nine years with an exercise price of $8.25 per share to purchase up to 22.9 million shares of POET, with roughly 2.3 million exercisable based on the initial order.

This pact helps reverse the damage to POET's order book from Marvell’s recent cancelation, in which the chip and networking company cited a breach of confidentiality in terminating its (inherited) agreement with POET.

Shortly before that notice, POET CFO Thomas Mika had told Stocktwits TV that the company was a supplier to Marvell.

The orders announced today are contingent on the successful development of these offerings and the ability to manufacture them at scale.

“Honestly, technology doesn’t mean anything unless you can manufacture it,” POET Executive Chairman and CEO Dr. Suresh Venkatesan told Sherwood News during an interview in Q4. “So our focus really this year has been to cross that last hurdle of ensuring that the technology that we’re developing is truly manufacturable at scale and at wafer scale.”

More Markets

See all Markets
markets
Helena Cheng

Ondas surges as Q1 revenue beats estimates, guidance raised

Ondas is surging in premarket trading after posting record Q1 revenue Thursday morning that exceeded analysts’ estimates.

Key numbers:

  • Revenue of $50.1 million (estimate: $39.36 million).

  • Adjusted EBITDA loss of $10.9 million (estimate: $19.53 million).

The company ended the first quarter with a pro forma order backlog of $457 million, up sharply from $68.3 million at the end of 2025.

The primary catalyst for this backlog expansion is the company’s aggressive integration of newly secured defense and autonomy contracts. One driver is Ondas’ recently finalized $175 million acquisition of Mistral, which directly injected $264 million in contracted backlog and established Ondas as a prime contractor for the US Army and Special Operations.

Furthermore, the company’s newly formed ONBERG Autonomous Systems joint venture is actively positioning Ondas to capture upcoming critical infrastructure and drone defense contracts across Germany and Ukraine.

“Looking ahead, we believe Ondas is well positioned for the remainder of 2026 and beyond,” said Eric Brock, chairman and CEO of Ondas. “Recent global developments continue to underscore the urgency driving accelerated adoption of our solutions, reinforcing our long-term thesis and validating the strategic actions we have taken to position the Company for a multi-decade growth cycle.”

Ondas raised its full-year 2026 revenue target to at least $390 million, compared with analysts’ forecasts for $377 million.

Before Thursday, the stock had fallen about 9% year to date after surging in 2025.

markets
Max Knoblauch

Take-Two climbs on reports that “GTA 6” pre-order dates were leaked by a Best Buy email

Gaming publisher Take-Two is up about 6% in premarket trading on Thursday following reports that the preorder date for “Grand Theft Auto 6,” its juggernaut title 13 years in the making, was accidentally leaked overnight.

According to several accounts on X, an email purported to be from Best Buy to affiliates has revealed May 18 as the preorder date. “GTA 6” is currently set to release on November 19. A May preorder date would put to rest fears of another delay to the game, which some analysts expect to sell more than 25 million copies on day 1.

In a Thursday morning X post, Insider Gaming owner Tom Henderson wrote, “Insider Gaming has been able to independently verify that the GTA 6 Pre-Order from Besy Buy is legitimate.”

Take-Two shares climbed earlier this month on a note from Bank of America stating that it believes “GTA 6” will have an $80 price tag.

Take-Two declined to comment on the rumors in an email to Sherwood News. Best Buy did not immediately respond to a request for comment.

markets
Helena Cheng

Intuitive Machines sinks after Q1 revenues miss estimates

Intuitive Machines shares are dropping in premarket trading after reporting first quarter sales that fell short of Wall Street expectations. Just ahead of this release, the company also announced that it’s reached an agreement to acquire UK satellite company Goonhilly Earth Station as well as its US subsidiary to enhance its ability to talk to spacecraft from Earth.

The key Q1 numbers:

  • Adjusted EPS: $-0.25 (estimate: -$0.08)

  • Revenue: $186.7 million (estimate: $208.1 million)

The company provided full-year 2026 revenue guidance of $900 million to $1 billion. The midpoint of $950 million exceeds the analyst consensus of $931.67 million. For the full year, management expects to be adjusted EBITDA positive.

Intuitive Machines' contracted backlog surged by $842 million from year-end 2025 to a record $1.1 billion, fueled by an a series of defense, civil, and commercial launch agreements. This includes the newly finalized US Space Force Andromeda IDIQ contract, which features a $6.2 billion program ceiling and marks the first revenue synergy after closing $800 million acquisition of Lanteris Space Systems back in January this year.

Civil operations are anchored by a $180.4 million NASA contract for its fifth official CLPS task order, which will allow Intuitive Machines to use NASA's brand-new, extra-large lunar lander to carry scientific equipment to the South Pole of the Moon.

“The next phase of the space economy will not be defined only by who reaches new destinations," said Intuitive Machines CEO Steve Altemus. "It will be defined by who can build the infrastructure, connect it reliably, and operate it at scale."

markets
Claire Yubin Oh

Marvell rises after strong Cisco earnings and price target hikes from Bank of America and Goldman Sachs analysts

Marvell Technology is enjoying another bump in its stock in early trading on Thursday following a series of target hikes from Wall Street analysts and strong read-across from Cisco, which is surging after reporting an earnings beat and boosting guidance.

Ahead of Marvell’s Q1 2027 earnings, expected to be released on May 27, Bank of America’s Vivek Arya raised the chipmaker’s price target to $200, from $125, while maintaining a “buy” rating on Wednesday. Calling the chipmaker a “top pick,” Arya highlighted the growing potential of AI data centers’ total addressable market, or future market size, as well as the role of AI networking — the hardware that powers data transfers between chips, optical components, and servers, which MRVL specializes in, and has been bringing in deals from big clients like Nvidia — in that expansion.

Goldman Sachs analysts took a more cautious stance in a Wednesday note, sticking to its “neutral” rating despite bumping its 12-month price target to $125, from $100 previously, as well as hiking its FY27/28 earnings-per-share estimates by 5%. The analysts, led by James Schneider, expect “upside to Marvell’s Datacenter business driven by higher hyperscaler CapEx, upside in its optical networking business, and a potential new Google partnership,” while noting the potential risk in a slowdown in overall AI spending, or the loss market share in custom compute, as reasons for the overall “neutral” rating.

MRVL is rated as “buy” by 86% of the 50 Wall Street analyst recommendations compiled by Bloomberg, with the remaining seven analysts rating it as “hold.” Late Tuesday, Advanced Micro Devices disclosed in a quarterly filing that it had increased its small stake in Marvell, worth ~$6.5 million at the end of March.

Elsewhere, Cisco jumped on a solid earnings beat and better-than-expected guidance. Both Cisco and Marvell are exposed to the network fabric around AI compute and the data center build-out, but Marvell focuses more on custom chips, while Cisco is exposed to the build-out of switching and routing for AI/GPU cluster networks.

markets
David Crowther

Micron has unseated Nvidia and Tesla as the market’s most heavily traded stock

The breathless rally in memory stocks, driven by optimism about the magnitude and longevity of the data center build-out creating a continued supply crunch across the AI supply chain, has put Micron within spitting distance of the $1 trillion market cap mark and given Sandisk a shot at doing something remarkable: topping the S&P 500 two years in a row.

It’s also reshaped where liquidity is deepest on Wall Street, with MU having taken the place of Nvidia as the most traded stock, while Sandisk, despite being a fraction of the size, isn’t far behind.

Technically, Micron’s daily volumes first exceeded Nvidia’s in a single session back on March 19, but one session isn’t really conclusive evidence to crown Micron king. However, over the last nine trading days, Micron’s volumes have eclipsed Nvidia’s on six of them — and the rolling five-day average of their turnover now shows clear daylight between the two, with $47 billion changing hands in Micron, compared to just $34 billion in Nvidia, per data from Bloomberg.

Sandisk — which, with a market cap close to $200 billion, really has little business being in the conversation — is also picking up heat. The stock’s turnover even briefly surpassed that of Tesla, which swapped the crown back and forth with Nvidia for much of 2025.

Indeed, when compared to its peers of a similar size (members of the S&P 500 with a market cap less than $250 billion), Sandisk is quite the exception. The company is turning over more than 10% of its market cap on most trading days. The only stock that comes anywhere close to that level is Lumentum, another AI winner.

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.
©2026 Sherwood Media, LLC