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POET Technologies Inc. (NASDAQ:POET) is one of the 10 Stocks With Unbelievable Gains. POET Technologies rallied for a second day on Thursday to hit a new all-time high, after bagging a new supply order from Lumilens Inc. with the potential to generate $500 million in revenues over the next five years. In an updated report, POET Technologies Inc. (NASDAQ:POET) said that $50 million of the total was initially inked, representing the first phase of the broader supply agreement over the next five years.

Photo from POET Technologies website In connection with the deal, POET Technologies Inc. (NASDAQ:POET) granted Lumilens a warrant to purchase more than 22.9 million common shares, exercisable over nine years at a price of $8.25 apiece. “This new EOI platform will allow us to jointly bring semiconductor-style manufacturing discipline to optical engines — delivering precision, scalability, and cost structure advantages that are essential for AI infrastructure at scale. Working jointly with Lumilens enables us to translate these capabilities into high-volume production and end-customer deployments for the next generation of AI data centers,” said POET Technologies Inc. (NASDAQ:POET) Chairman and CEO Suresh Venkatesan. In other news, the listed firm reported a dismal earnings performance in the first quarter of the year, having swung to a net loss of $12.3 million from a $6.3 million net income in the same period last year. Revenues soared by 202 percent to $503,389 from $166,760 year-on-year. While we acknowledge the potential of POET as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy.  Disclosure: None. Follow Insider Monkey on Google News.