Aixtron orders more than double as AI data centres drive laser demand

German chip-equipment maker Aixtron has reported a sharp jump in orders for the third quarter of 2026, as demand for the laser tools used in AI data centres surged. But the strong numbers did not protect its shares, which fell on 30 October in a broad sell-off across chip stocks.

Aixtron said on 29 October that order intake in the three months to September rose 122% from a year earlier to €274.9 million, up from €124.0 million in the same quarter of 2025. The company said the growth was driven by equipment for laser applications used in communications inside AI data centres. Optoelectronics accounted for about 68% of equipment orders, with power electronics contributing around 24%.

Revenue for the quarter reached €183.6 million, up 54% year on year and within the company’s guided range. Operating profit came in at €56.7 million, a margin of about 31%. The equipment order backlog stood at €549.4 million at the end of September, almost double the €286.5 million a year earlier, giving the company revenue visibility well into 2027.

Why it matters

The result is a concrete sign that spending on AI infrastructure is turning into real orders for the companies that build the tools behind it. Aixtron’s backlog now covers business well into next year, and management said it expects the high level of orders to hold or rise further.

At the same time, the market reaction shows investors are no longer rewarding every AI-linked result. Aixtron’s shares fell on 30 October as chip stocks dropped across the board, with disappointing results and guidance from Amazon and Intel weighing on the sector, according to dpa-AFX, while Reuters pointed to growing unease about what the AI build-out will ultimately cost.

What happens next

Analysts are split on what the quarter means for the shares. Deutsche Bank raised its recommendation to “Buy” from “Hold”, while trimming its price target to €42 from €44. Berenberg kept a “Hold” rating and cut its target to €39 from €42, judging the stock fairly valued after the strong quarter.

The test now is execution: turning the record backlog into delivered machines and revenue, while keeping production on track. Aixtron has not raised its 2026 forecast, so investors will watch the next quarterly update for signs that the order surge is feeding through to sales.

Sources

• https://www.aixtron.com/en/investors/news/finance-news/AI-driven%20demand%20fuels%20strong%20order%20momentum_n6508801 (AIXTRON, 29 October 2026)
• https://www.ad-hoc-news.de/boerse/news/unternehmensnachrichten/aixtron-wins-the-orders-analysts-win-the-argument-over-what-they-re-worth/70439106 (ad-hoc-news, 31 October 2026)
• https://www.ad-hoc-news.de/boerse/unternehmensnachrichten/aixtron-s-upgrades-cut-both-ways-as-chip-selloff-drowns-out-a-doubling-order-book/70437445 (ad-hoc-news, 31 October 2026)

This article is for general information and education only. It is not legal or financial advice.