On July 8, AXT Inc rose 10.33% in regular trading, trading at $63.87/share, with turnover of $128 million. The stock had earlier declined 8.47% amid a sector-wide selloff in semiconductor equipment stocks before swiftly recovering as the sector stabilized and rebounded.

On the news front, AXT's subsidiary Beijing Tongmei previously signed a three-year 6-inch indium phosphide wafer substrate master development and supply agreement with Coherent, an NVIDIA CPO supply partner, effective June 25. Coherent prepaid approximately $22.29 million under the agreement. Additionally, the Shanghai Stock Exchange accepted the withdrawal application of Tongmei's IPO on the same day, as disclosed in an SEC filing.

The global InP substrate supply-demand gap currently exceeds 70% with lead times extending beyond 24 weeks. The long-term agreement locks in critical upstream material supply, while the substantial prepayment improves cash flow visibility. Within the Semiconductor Equipment sector, Applied Materials rose 3.06%, Lam Research gained 2.65%, KLA-Tencor added 1.38%, Teradyne climbed 1.2%, and ASML rose 0.92%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)