AXT is trading at $76.20 (10.97%) up in pre-market, extending a sharp multi-day rally driven by enthusiasm for its indium phosphide substrates used in AI and high-speed networking.
- Management recently characterized Q2 results as an AI-driven inflection point, even as Q3 guidance signaled a lumpy near-term ramp.
- The move is further supported by a broader semiconductor pre-market surge tied to strong overall tech sentiment.