On September 14, AXT Inc fell 8.69% in regular trading, trading at $58.9 per share, with turnover of $83.68 million.

The decline was driven by a sector-wide selloff after three major AI companies — Anthropic, OpenAI, and SpaceX — jointly called for slowing AI development. OpenAI CEO Sam Altman also announced the company would not pursue an IPO this year, citing AI safety concerns. The news triggered heavy selling across optical communication and semiconductor equipment stocks. AXT Inc's key downstream customers Coherent and Lumentum both fell over 5%.

Within the Semiconductor Equipment sector, ASML Holding fell 6.75%, Applied Materials fell 7.57%, Lam Research fell 7.86%, KLA Corporation fell 6.39%, and Teradyne fell 9.49%. The upcoming Fed rate decision further weighed on sentiment, with major Wall Street banks expecting a rate hike with near-90% probability.

AXT, Inc. is a global materials science company that develops and produces high-performance compound and single-element semiconductor substrates, including indium phosphide, gallium arsenide, and germanium, serving data centers, telecommunications, and optoelectronics.

(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.)