AI-Related UpgradesData Center spending for AI-related upgrades is a key driver of growth, with customers upgrading networking hardware with EML/Si-Pho based technologies, which use InP.
Backlog And OrdersCustomers were noted to have been placing longer-term orders, resulting in a record $49MM backlog.
Revenue GrowthAXT reported strong growth this quarter, with revenue of $28MM well above guidance of $20MM, driven by growth of InP shipments, as well as GaAs.