AXT's subsidiary Tongmei secured financing agreements for private equity investment totaling up to roughly $545 million to expand manufacturing capacity. Following the transaction, AXT expects to retain majority ownership, enhancing its growth portfolio despite challenges to overseas listing.
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Latest 12 stories · newest Oct 28, 2026
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AXT Subsidiary Tongmei Agrees to Up to $545M Private Equity Raise
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AXT reports Q2 revenue of $47.6M
AXT Inc. reported $47.6 million in Q2 revenue, up 77% from Q1, due to strong demand for optical connectivity and AI infrastructure.
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AXT Announces Long-Term Supplier Agreement with Lumentum
AXT Inc. has entered into a definitive agreement with Lumentum Operations, LLC for indium phosphide wafer supply and capacity reservation through 2031, backed by initial deposits of $43.5 million to strengthen revenue visibility.
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AXT Inc files amended certificate of incorporation as Exhibit 3.1
AXT Inc submitted an updated certificate of incorporation document to the SEC. The filing appears to be a routine corporate governance update with no apparent material business impact.
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