AXTI shares jump 10.13% premarket as AI data center demand for Indium Phosphide wafers and board governance updates boost investor optimism.

AXT surged 10.13% in premarket trading following news that the company is supplying Indium Phosphide substrate wafers for AI-driven data center expansions, positioning it in a high-growth niche of the semiconductor materials sector. The report highlighted increased demand for advanced optical connectivity in AI infrastructure, alongside a recent board governance update, including the appointment of an independent director as Audit Committee Chair. These developments, signaling both strategic alignment with AI infrastructure growth and enhanced financial oversight, appear to have driven investor optimism. The other news events, detailing an ax-related crime in Germany, are unrelated to AXT’s business operations.