AXT raises private equity financing of up to $545m in Tongmei

AXT Inc of Fremont, CA, USA — which makes gallium arsenide (GaAs), indium phosphide (InP) and germanium (Ge) substrates and raw materials at plants in China — says that its majority-owned China-based wafer manufacturing subsidiary Beijing Tongmei Xtal Technology Co Ltd has entered into definitive agreements for a private equity financing to fund further expansion of its manufacturing capacity for indium phosphide substrates, expansion of its principal business operations, capital expenditures, …

Source: Semiconductor Today, published 2026-10-28. The summary is the Hub's own; the full story is at the source. Report a rights or accuracy concern