---
title: "AXT surges on back of Coherent deal"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291827511.md"
description: "AXT shares surged over 17% after announcing a three-year supply agreement with Coherent. Under the deal, AXT's subsidiary will supply 6-inch indium phosphide wafers, supported by a $22.29 million refundable prepayment from Coherent. AXT plans to expand production capacity in Beijing between 2026 and 2028 to fulfill these commitments."
datetime: "2026-07-06T16:21:38.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291827511.md)
  - [en](https://longbridge.com/en/news/291827511.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291827511.md)
---

# AXT surges on back of Coherent deal

AXT (AXTI) shares surged more than 17% on Monday after the company disclosed it signed a three-year supply deal with Coherent (COHR). AXT's subsidiary, known as AXT-Tongmei, will develop and supply 6-inch indium phosphide water substrates to Coherent. Coherent is making a prepayment of about $22.29M for the deal, and AXT will expand production capa...

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