AXT, Inc.

AXT, Inc. is a material science company specializing in the development and manufacturing of high-performance compound and single element semiconductor wafer substrates. Headquartered in Fremont, California, the company's products are utilized in applications where traditional silicon wafers cannot meet the required performance specifications. AXT also maintains an Asia headquarters in Beijing, China, alongside its manufacturing facilities in the region.

The company's primary product offerings include indium phosphide (InP), gallium arsenide (GaAs), and germanium (Ge) wafer substrates. These advanced materials are crucial for various high-tech applications, including data center connectivity, 5G infrastructure, passive optical networks, LED lighting, lasers, sensors, power amplifiers for wireless devices, satellite solar cells, fiber optic communications, lidar for robotics and autonomous vehicles, and infrared thermal imaging. AXT also produces high-purity raw materials such as gallium, boron trioxide, and pyrolytic boron nitride (pBN) products.

Led by co-founder and CEO Morris S. Young, AXT has recently experienced significant market momentum, driven by strong demand for its indium phosphide substrates, particularly for AI infrastructure and high-speed optical data transmission in data centers. The company completed a capital raise of $632.5 million to fund the expansion of its indium phosphide capacity and research and development efforts at its Beijing Tongmei Xtal Technology Co., Ltd. subsidiary. AXT reported strong financial results for the first quarter of 2026, surpassing expectations, with increased revenue and a reduced net loss, contributing to a notable appreciation in its stock price.