POET Technologies Inc. (NASDAQ:POET) shares are rising Wednesday as fabless chip stocks gain after CoreWeave’s results and a continued chip rally in South Korea. Here’s what you should know.
- POET Technologies stock is among today’s top performers. Why are POET shares rallying?
POET Stock Rises with CoreWeave
POET is rising Wednesday along with other fabless chip companies, which design semiconductors but depend on partners to make them, after CoreWeave posted strong third-quarter results. CoreWeave Inc. (NASDAQ:CRWV), a customer of the chip sector, reported after Tuesday’s close.
Sales hit $3.66 billion, beating the $3.55 billion forecast, and grew about 168% from a year ago. A 95-cent adjusted loss per share was narrower than the $1.16 analysts expected, and the backlog of customer orders stood at $132.5 billion. Michael Intrator, CoreWeave’s chief executive, labeled it “a breakout quarter for CoreWeave.”
CoreWeave also raised its outlook. Analysts had pegged 2026 revenue at $12.86 billion, while CoreWeave now guides to $13 billion up to $13.3 billion. The company plans to spend $37 billion to $39 billion on capital projects and aims to operate over 1.85 gigawatts of power capacity by December.
POET is tied to AI infrastructure spending, as chip designers supply hardware used in the data center buildout funded by companies like CoreWeave. CoreWeave’s strong results and continued spending plans help support the demand outlook for the broader fabless semiconductor group.
POET Also Moves With South Korea’s Chip Rally
South Korea’s chip stocks are rallying again, and the move is carrying into U.S. trading hours. The rally follows a rough October. Foreign investors pulled a net $49.77 billion from seven Asian markets that month, Reuters reported, as worries about AI spending and possible tougher AI regulation hit tech-linked stocks.
South Korean stocks accounted for $14.59 billion of that selling, and November has already brought another $8.32 billion. Exness strategist Wael Makarem called the selling “a retreat from AI-linked positions.”
South Korea matters to POET as it’s home to major chipmakers, so a rally in its chip stocks suggests investors are returning to AI-linked positions. That mood can spill over into U.S. fabless names such as POET.
POET Shares Are Soaring
POET Price Action: POET shares were up 11.64% at $5.66 at the time of publication on Wednesday, according to Benzinga Pro.
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