What Propelled AXT Inc.’s (AXTI) 19.5% Rally? Angelica Ballesteros Wed, November 11, 2026 at 6:47 PM EST 2 min read AXTI +15.24% ^IXIC +1.60% ^GSPC +1.31% ^DJI +0.49% CRWV +17.36% Explore stocks on Coinbase Trading disclosure Trading disclosure The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
AXT Inc. (NASDAQ:AXTI) is on the AI Stocks Dominating List of Biggest Winners.
AXT Inc. soared by 19.49 percent on Wednesday to end at $46.97 apiece, as investors gobbled up shares amid broader market optimism.
The wafer substrates manufacturer mirrored the rally on Wall Street's three major indices, led by the tech-heavy Nasdaq, climbing 1.6 percent, followed by the S&P 500's 1.31 percent gain and the Dow Jones' 0.49 percent increase.
Further buoying optimism were results of strong earnings performance from data center giant CoreWeave Inc., whose revenues climbed by 168 percent to $3.66 billion from only $1.36 billion in the same period last year, on the back of customer wins across AI labs, hyperscalers, and enterprises, namely Canva, Mirendil, Parallel Web Systems, Serve Robotics, Substack, and Wayve, among others.
CoreWeave's results signaled that investments in AI infrastructure buildout remained strong, sparking continued growth prospects for AXT Inc. (NASDAQ:AXTI) and the broader industry.
For its part, AXT Inc. (NASDAQ:AXTI) also reported strong earnings in the third quarter of the year, having swung to a net income of $25.7 million from a $1.9 million net loss in the same period last year.
Revenues increased by 163 percent to $73.4 million from $27.95 million year-on-year, driven by exceptionally strong customer demand for indium phosphide.
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