  AX J1949.8+2534 is a candidate supergiant fast X-ray transient (SFXT)
observed in outburst by INTEGRAL (IGR J19498+2534). We report on the results of
six Neil Gehrels Swift-XRT, one Chandra, and one NuSTAR observation of the
source. We find evidence of rapid X-ray variability on a few ks timescales.
Fortunately, Chandra observed the source in a relatively bright state, allowing
us to confidently identify the optical/NIR counterpart of the source. We also
obtained an optical spectrum of this counterpart, which shows an H$\alpha$
emission line and He I absorption features. The photometry and spectrum of the
source allow us to constrain its distance, $\sim7-8$ kpc, and reddening,
$A_V=8.5-9.5$. We find that the star is likely an early B-type Ia supergiant,
confirming that AX J1949.8+2534 is indeed an SFXT.
