AXT reported adjusted earnings of $0.19 per share, driving a 19% jump as demand for data center optics boosts semiconductor stocks.
AXT Inc. (AXTI) shares climbed 19% Monday, extending gains after the company posted stronger-than-expected earnings of $0.19 per share on July 30. Revenue growth and record indium phosphide sales, fueled by data center demand, drove the rally.
Analysts highlighted AXT’s expanded gross margins and leadership in optical connectivity, aligning with broader sector optimism. Nvidia’s advances in co-packaged optics and rising demand for AI-driven data centers are lifting optical networking stocks.
The surge reflects investor confidence in AXT’s positioning amid surging demand for high-speed optical components in data infrastructure.