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Applied Optoelectronics (NASDAQ: AAOI) has successfully completed a $600 million at-the-market equity offering, selling over 5.6 million shares at an average price of $105.36. This offering, the company's third in 2026, generated approximately $588 million in net proceeds. These funds will be allocated towards general corporate purposes, including debt repayment, working capital, and capital expenditures for expanding manufacturing capabilities for data center optical devices.