Navitas Semiconductor Corp (NVTS) shares surged 7.56% in Wednesday's pre-market trading, building on the previous day's 5.05% gain. The latest rally is fueled by the company's new collaboration announcement and continued momentum from its recent partnership with Nvidia.
The semiconductor specialist, known for its gallium nitride (GaN) and silicon carbide (SiC) power semiconductors, recently unveiled a partnership with French power electronics company BrightLoop Converters. This collaboration focuses on supporting BrightLoop's latest series of hydrogen fuel-cell chargers for agricultural transportation equipment, showcasing Navitas' expanding reach in the power electronics sector. The news comes on the heels of Navitas' involvement in Nvidia's 800 V HVDC architecture, which resulted in a remarkable 164% single-day gain for the stock on May 22.
During Baird's annual tech conference, Navitas CEO Gene Sheridan hinted at broader opportunities beyond the Nvidia partnership. "Everybody talks about NVIDIA, but data center and AI is not just about NVIDIA. I think all the hyperscalers are going to move to these really high voltages," Sheridan stated. This outlook has sparked optimism about Navitas' future prospects in the rapidly evolving AI and data center markets. With the stock up 226% since May 21 and 74% year-to-date, investors appear increasingly confident in Navitas' potential as it prepares for the anticipated release of the 800 V HVDC systems in 2027.
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