AXT Inc's stock surged 18.47% during intraday trading on Thursday, continuing its remarkable year-to-date performance.
The sharp rise comes as the company is scheduled to release its first-quarter earnings after the market closes on April 30. AXT had previously provided optimistic guidance, anticipating quarter-over-quarter revenue growth driven by increased demand for indium phosphide from AI infrastructure.
The company specializes in high-performance compound wafers such as gallium arsenide (GaAs) and indium phosphide (InP), which are used in semiconductor chips and optoelectronic devices. These materials serve as critical alternatives when silicon substrates fall short of performance requirements, positioning AXT to benefit from growing AI infrastructure investments.
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