They seem more like direct competition for Celestial AI. It was unclear to me what their hardware includes, but it is definitely photonics. They make a lot of statements about scaling with die size, seeing into a future of wafer size xPU chips because the current 2 Nanometer chips cannot get any more dense. The future is with optical interconnects and software to make it all work.

There is room for more that CAI in this mix and POET can work with any of them. With supply relationships with Foxconn and Mitsubishi, the POET piece of at can stay relevant.

I note that CAI and POET are clearly working on rollouts with several major hyperscalers. I don't see as much going on with these others, but with a round at $400M they certainly have someone teed up. 

There is so much CAPEX at stake, there can be multiple answers to who will profit in this supply hierarchy.