5 Best Data Center Stocks to Buy and Hold for the Next Decade

2. AXT, Inc. (NASDAQ:AXTI)

On June 23, 2026, AXT, Inc. (NASDAQ:AXTI) announced that Tracy Liu was appointed to its Board of Directors, effective June 17, 2026. The board expanded to five directors from four. Liu brings more than 30 years of business advisory, tax strategy, and accounting experience, including 10 years with Big Four public accounting firms and more than 20 years advising public and private companies.

On June 25, Northland reiterated an Outperform rating and recently increased its price target on AXT to $125 amid a sharp pullback in the shares. Northland also cited AXT’s “very positive” appearance at the firm’s NCM Growth Conference.

On June 18, AXT disclosed that its subsidiary, Beijing Tongmei Xtal Technology, entered into a long-term supply agreement with Nanjing Casela Technologies. The agreement reserves production capacity and raw-material allocation for Casela in exchange for Casela’s commitment to purchase a fixed aggregate quantity of indium phosphide wafer substrates from January 1, 2027, through December 31, 2027. In 2027, Casela is committed to purchasing an agreed quantity of InP substrate wafers for a total price of $25.4M, with deliveries on a monthly schedule.

AXT, Inc. (NASDAQ:AXTI) designs, develops, manufactures, and distributes compound and single-element semiconductor substrates.