AXT, Inc. is a semiconductor substrate manufacturer that offers a wide range of products such as indium phosphide, semi-insulating gallium arsenide (GaAs), semi-conducting GaAs, germanium substrates, and other purified materials. Their products are used in a variety of applications such as data center connectivity, 5G communications, solar cells, RF amplifiers, LED screens, and more. They sell their products through direct salesforce and distributors across the globe.