Applied Optoelectronics Stock Rises on Possible Continued Momentum as It Completes Share Sale

Applied Optoelectronics Inc. (NASDAQ: AAOI) has completed a $600 million at-the-market equity offering, raising approximately $588 million by selling 5,694,845 shares at an average price of $105.36 each. The company plans to use the proceeds for general corporate purposes, including debt repayment and manufacturing expansion for data center optical devices. Following this announcement, AAOI shares rose by 4.57%, trading at $127.13.