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 one of the 10 Stocks Effortlessly Climbing Double-Digits.

AXT Inc. soared to a fresh all-time high on Friday, as investors resumed buying positions ahead of the company’s annual shareholders’ meeting in the next few weeks.

After failing to hit the required quorum, AXT Inc. (NASDAQ:AXTI) earlier this week said that it would move the meeting to June 4, 2026.

Stock market charts. Photo by Kaboompics.com on Pexels

Investors are expected to watch for business updates and outlook for the year, with optimism strengthened by the strong demand for its products amid the rapid development of artificial intelligence data centers.

In other news, AXT Inc. (NASDAQ:AXTI) earlier this month announced a huge improvement to its earnings performance for the first quarter of the year, with attributable net loss slashed by 81 percent to $1.62 million from $8.798 million in the same period last year. The drop was due to an 84 percent decrease in operating loss, at $1.585 million versus $10.275 million year-on-year. Revenues also surged by 39 percent to $26.9 million from $19.3 million year-on-year.

Looking ahead, AXT Inc. (NASDAQ:AXTI) is highly optimistic about its business, expecting to ride the booming artificial intelligence industry through a strong demand from data center operators.

While we acknowledge the potential of AXTI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

Disclosure: None. Follow Insider Monkey on Google News.