Aixtron jumps after BofA upgrades on high AI exposure
Shares in German chip systems manufacturer Aixtron AIXGn.DE up 9%, at top of Frankfurt mid-cap index .MDAXI
BofA Global Research double-upgraded to "buy" from "underperform" as it expects revenue mix shift from electric vehicles to AI in upcoming years
Broker notes Aixtron to benefit from revenue increase from optoelectronics (+56% in 2026) and gallium nitride tools (+16% in 2026, +44% in 2027), driven by stronger demand for increasingly power-intensive AI data centres in the mid-term
As the co's optoelectronics third-quarter revenue was already two-thirds data centre-related and AI exposure is set to expand to around 50% of 2026-27 forecast revenues, it is "the most exposed stock in our coverage cluster" for the sector - broker
Silicon carbide tools, now in oversupply, are also expected to recover, as AI servers demand higher voltages and 800V electric vehicles break into the market, boosting sector sales in 2027 at +43%, broker says
Shares at their highest since August 2024
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