NEW YORK — Shares of AXT rose more than 8% on Monday, rebounding from a steep sell-off late last week as investors returned to technology stocks tied to artificial intelligence.

AXT shares were up $4.33, or 8.43%, at $55.80 in morning trading on the Nasdaq. About 2.7 million shares changed hands. The company has a market value of about $3.6 billion.

The gain followed an 11% drop on Friday, when the stock closed at $51.47 amid a broad sell-off in AI-related shares.

AXT did not release any market-sensitive news on Monday. The rebound........

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