AXT Inc. stock soared over 5,100% in 12 months amid record AI infrastructure demand for its optical substrates.
AXT Inc. shares surged more than 5,100% over the past year, trading from $1.74 in June 2025 to nearly $89 by early June 2026. The stock hit an all-time high of over $140 on May 22, 2026, before a 35% pullback, still outperforming broader markets and crypto assets like Bitcoin and Ethereum, which declined nearly 40% in the same period.
The rally was driven by surging demand for AXT’s Indium Phosphide and other compound substrates, critical for AI data center infrastructure. Hyperscalers including Google, Amazon, Microsoft, and Meta accelerated data center construction, creating a record backlog for AXT and boosting expectations for future capacity expansions. The company’s substrates power next-generation lasers and optical transceivers, enabling ultrafast interconnects in AI data centers.
Despite the recent correction, AXT’s annual gains remain among the strongest in the stock market, reflecting its pivotal role in the AI supply chain.