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POET Technologies (POET) revenue beats as AI, hyperscale partnerships expand. (00:14) Trump discloses $220M in trades tied to U.S. companies in Q1. (01:11) Cerebras (CBRS) hits market with near record-setting price as shares open at $350. (02:32)

This is an abridged transcript.

POET Technologies (POET) is down 3.6% premarket after closing 43% higher on Thursday.

The company unveiled a deal with Lumilens for optical networking that could be worth $500M over the life of the agreement.

Lumilens has placed an initial purchase order with POET for the manufacturing of electrical-optical interposer-based engines for $50M. POET said in a statement that the deal could eventually result in purchases worth $500M or more over a period of five years.

In conjunction with the supply deal, POET granted a warrant to purchase up to 22.92M common shares. The warrant is exercisable over nine years at an exercise price of $8.25 per share.

Engineering samples from the agreement are expected later this year and shipments to hyperscalers are expected to ramp in 2027.

President Trump made several stock and bond purchases in U.S. companies in the first quarter, amounting to at least $220M, according to a filing with the Office of Government Ethics.

Trump bought as much as $5M each in companies including Nvidia (NVDA), Boeing (BA), Oracle (ORCL), Microsoft (MSFT) and Costco (COST) in Q1. It's unclear how many of these trades involve equities.

Six of the trades disclosed involved Intel (INTC), the chipmaker in which the U.S. government holds a 10% stake.

In March, Trump bought a small stake in Warner Bros. Discovery (WBD) worth at least $30,000 and a stake in Paramount Skydance (PSKY) worth at least $15,000.

The biggest transactions were on Feb. 10, when Trump unloaded holdings in Microsoft (MSFT), Meta (META) and Amazon (AMZN) in amounts between $5M and $25M. He also sold a stake in a Vanguard ETF (VIG) in January worth at least $5M.

The filing also showed smaller transactions involving crypto companies Coinbase (COIN) and Strategy (MSTR).

The White House told Bloomberg News that neither Trump nor his family members were making investment decisions for him, adding that independent financial managers carried out the transactions using programs that replicate recognized indexes when making investments.

And finally an update to our top story from Thursday’s edition of Wall Street Breakfast.

Cerebras Systems' (CBRS) shares hit the Nasdaq Global Select Market with one of the highest initial public offering prices in history at $185, with shares opening at $350.

Shares climbed to $385 just moments after going live, which prompted a temporary halt in trading. By the closing bell, shares had settled at $311.

Despite Nvidia (NVDA) being a primary competitor of Cerebras, its share value was unaffected and ticked up 4% by the close of trading on Thursday.

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Stock index futures are down as Nasdaq futures bottomed the pack after reports indicated that the recent U.S.-China talks did not focus on chips.

Crude oil is up 3.7% at $104. Bitcoin is down 1% at $80,000. Gold is down 2.5% at $4,564.

The FTSE 100 is down 1.1% and the DAX is down 1.5%.

Economic calendar:

• 8:30 am Empire State Manufacturing Index

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