Axt Inc

AXTI surged 10.01% to $97.18 Friday and was indicated at $110.41 premarket Monday, driven by indium phosphide supply constraints for AI data centers. The stock now trades near or above analyst targets.

AXT shares closed at a record $140.83 on Friday, gaining 16.37% for the day and 13.8% for the week, fueled by demand for indium phosphide in AI data centers.

AXT shares surged 16.37% to $140.83, hitting a 52-week high, driven by AI optical networking demand and a $100M InP backlog.

AXT adjourned its 2026 annual meeting after failing to reach a quorum, rescheduling for June 4. The company seeks shareholder approval to raise authorized shares.

AXT shares surged 21% after Q1 revenue rose to $26.9M and net loss narrowed, with the InP backlog exceeding $100M due to AI data center demand.

AXT raised $632.5 million to boost indium phosphide wafer production in China, betting on AI demand. First-quarter revenue is projected at $26-$28 million, with a net loss up to $2.6 million.

AXT Inc shares declined over 6% in premarket trading Tuesday, giving back part of Monday's 22% surge. SEC filings revealed the CEO, CFO, and a director filed to sell a combined 753,801 shares worth approximately $30.2 million.

Baxter topped Q1 earnings expectations, sending shares up 4%, but the company's 2026 outlook remains unchanged amid ongoing Novum pump challenges and tariff pressures.