Key facts
- Navitas Semiconductor stock surged 61.2% in May, reaching $32.25.
- The company beat Q1 earnings estimates for revenue, loss per share, and cash outflows.
- Navitas showcased its 800V-to-6V DC-DC power delivery board at Nvidia's AI Factory MGX Ecosystem Showcase.
- The power board uses GaNFast technology for high-density power solutions in AI data centers.
- Navitas announced a GaN technology licensing deal with Cyient Semiconductors in India.
Navitas Semiconductor's stock has seen a significant rally, with a 61.2% increase in May and a 262% year-to-date gain, trading around $32.25 with a $6 billion market cap. This surge is attributed to a combination of strong Q1 earnings, where the company beat analyst estimates for revenue, loss per share, and cash outflows, and its strategic involvement with Nvidia. Navitas participated in Nvidia's Partner Ceremony and is showcasing its 800V-to-6V DC-DC power delivery board at Nvidia's AI Factory MGX Ecosystem Showcase at COMPUTEX 2026. This board utilizes GaNFast technology to address the critical challenge of power delivery in next-generation AI data centers, targeting high efficiency and reduced thickness for integration with GPU boards. The company also announced a GaN technology licensing deal with Cyient Semiconductors in India. Positive outlooks from Nvidia and Vicor on AI spending further bolstered investor confidence. Navitas is a battleground stock, with short sellers betting against its profitability, but recent catalysts have forced short covering, contributing to the rally. The stock jumped as much as 25% on Wednesday after the company announced its collaboration with NVIDIA's MGX Ecosystem to advance 800 VDC AI infrastructure. The board cuts out the traditional 48V intermediate bus converter stage inside compute server trays, enabling denser, more efficient server builds. It packs 16 GaNFast FETs rated at 650V, 11 mOhms, targets 97.5% peak efficiency, runs at a 1 MHz switching frequency, and achieves a power density of 2,100 W/in³. The board is roughly 20% thinner than a mobile phone, offering a meaningful form factor win in environments where rack space and heat management are constant headaches. CEO Chris Allexandre stated that power delivery has become "one of the most critical challenges in enabling next-generation gigawatt AI factories" as AI workloads continue to scale. Navitas also offers silicon carbide solutions, including GeneSiC SiC solutions for solid-state transformers and high-power three-phase power supply units.