Sugar Land, Texas – October 05, 2026 -- Applied Optoelectronics (NASDAQ: AAOI) has completed a $600 million at-the-market equity offering, selling 5,694,845 shares at an average price of $105.36 to net $587,999,985.89 for the company.

AOI raises $588 million through third ATM program of 2026

The offering, disclosed on August 21, 2026 via a prospectus supplement filed with the U.S. Securities and Exchange Commission, marks the company's third at-the-market equity raise this year. AOI confirmed the program's completion today, closing a capital-raising effort aimed at funding its optical networking manufacturing expansion.

Proceeds target AI data center manufacturing capacity

Dr. Thompson Lin, AOI's Founder, President and CEO, said the funds will go toward new equipment and machinery for production and research and development as the company scales advanced manufacturing capacity. The company stated net proceeds will support general corporate purposes, including debt repayment, working capital, and capital expenditures primarily tied to expanding manufacturing for data center optical devices.

Repeated capital raises reflect sustained AI infrastructure demand

AOI positioned the raise as a response to growing demand for high-speed optical connectivity in AI data centers. The company, which also serves the CATV broadband, telecom, and fiber-to-the-home markets, operates manufacturing and engineering facilities in Sugar Land, Texas, Taipei, Taiwan, and Ningbo, China, alongside R&D operations in Atlanta, Georgia.