On July 6, AXT Inc rose 11.16% overnight, trading at $61.42/share, with turnover of $459,900.

On the news front, AXT's subsidiary Beijing Tongmei signed a three-year 6-inch indium phosphide wafer substrate master development and supply agreement with Coherent, a key CPO supply partner of NVIDIA. The agreement became effective on June 25, with Coherent prepaying approximately $22.29 million. The long-term contract locks in upstream critical material supply amid a global InP substrate supply-demand gap exceeding 70% and lead times extending beyond 24 weeks.

This agreement follows a separate long-term supply deal AXT's subsidiary signed with Casela on June 11, reinforcing the company's strategic positioning as an essential upstream material provider for AI data center optical communications. The stock had previously faced pressure from sector-wide declines and executive share sales, making this contract a key catalyst for a recovery rally as it significantly enhances revenue visibility ahead of the upcoming earnings report expected on July 30.

(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.)