AXT Inc. Reports Revenue Growth Amid Rising AI Demand
AXT Inc. (NASDAQ:AXTI) reported a 39% year-on-year revenue increase and an 81% reduction in net loss for Q1 2026, driven by growing demand from the AI sector. The company's shares hit an intra-day high of $96.32 before closing at $96 per share with gains of 21.18%. AXTI is expanding its indium phosphide capacity to support optical data transmission needs in AI-focused data centers.
Tickers: $AXTI
Topics: AI demand revenue growth stock performance