On July 21, AXT Inc rose 9.42% in regular trading, trading at approximately $52.51/share with turnover of $56.27 million, extending gains from the prior session.

On the news front, the indium phosphide (InP) substrate supply-demand gap continues to widen as hyperscale cloud providers accelerate AI data center buildouts. Analysts indicate the optical communication supply chain has entered a tight supply phase, with 2-inch InP substrate prices expected to rise 42% to 76% and 3-inch substrates approximately 78%. The company previously signed a Master Development and Supply Agreement with Coherent effective June 25, and its subsidiary secured a 173 million RMB long-term supply contract with Nanjing Casela Technologies, significantly enhancing order visibility through the end of next year.

The broader semiconductor equipment sector traded higher in tandem, with Teradyne up 8.33%, Applied Materials up 6.61%, Lam Research up 4.54%, and KLA-Tencor up 4.29%, providing additional momentum to the rally.

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