Nvidia "boosts" another stock: Navitas Semiconductor soars 24% premarket, betting on the 800V AI power revolution

Navitas Semiconductor’s stock price surged significantly in pre-market trading, becoming the latest beneficiary of the AI infrastructure investment boom. The company announced a collaboration with Nvidia’s MGX ecosystem to jointly advance the construction of 800 VDC AI infrastructure, boosting market sentiment.

On May 29, the company participated in Nvidia’s partner ceremony held at the Taipei Nangang Exhibition Center in Taiwan, and is currently showcasing its 800 V to 6 V DC-DC Power Distribution Board (PDB) products at the COMPUTEX 2026 exhibition. This product is specially designed for AI data center 800 VDC rack architecture, aiming to enhance system efficiency and power density.

Navitas Semiconductor CEO Chris Allexandre stated, as AI workloads continue to expand, power delivery has become one of the most critical challenges in building the next-generation gigawatt-level AI factories.

After the announcement, Navitas Semiconductor’s stock price soared over 22% in pre-market trading. The stock has already risen 335% over the past year, up 262% year-to-date, with a market value of approximately $6.21 billion.

Eliminating Intermediate Conversion Steps, Directly Supplying GPU Power

The 800 V to 6 V Power Distribution Board presented by Navitas Semiconductor is its core product in the Nvidia MGX ecosystem partnership.

The key innovation of this product is that it directly eliminates the traditional 48 V intermediate bus converter (IBC) within computing server trays, thereby maximizing system efficiency, reliability, and saving valuable physical space.

From a technical perspective, the Power Distribution Board is equipped with 16 GaNFast field-effect transistors, rated at 650 V with an on-resistance of 11 milliohms, using the latest DFN8×8 dual-sided thermal package. The target peak efficiency is 97.5%, operating switching frequency is 1 MHz, and power density reaches up to 2100 W/in³.

In addition, the board is about 20% thinner than a smartphone. Its ultra-slim form factor allows integration with GPU boards at an extremely close distance for maximum transient performance and enhanced power distribution efficiency.

Wide Bandgap Semiconductor Portfolio: Covering End-to-End Power Supply from Grid to GPU

Navitas Semiconductor’s collaboration showcases not only a single product but a wide bandgap (WBG) semiconductor technology portfolio that serves the entire power supply chain of AI factories.

For silicon carbide (SiC), the company’s GeneSiC solution supports efficient power delivery from the grid to AI computing racks, covering solid-state transformers using 2300 V and 3300 V SiC power modules, as well as high-power three-phase power supply units based on fifth-generation 1200 V SiC MOSFET technology.

For gallium nitride (GaN), GaNFast technology enables operation at MHz frequencies, higher power density, and faster transient response, supporting direct and efficient power delivery from rack level to GPU. The company currently owns more than 300 authorized or pending patents.

Strong Stock Performance: Revenue Beat Expectations, but Valuation Remains Controversial

Navitas Semiconductor’s recent strong stock performance is partly due to marginal improvement in fundamentals.

The company recently reported fiscal year 2026 Q1 revenue of $8.6 million, exceeding the market expectation of $8.18 million. However, the loss per share was $0.15, significantly worse than the anticipated loss of $0.05 per share.

Meanwhile, the company recently completed a stock offering of $122 million at market price, signing a sales agreement with Craig-Hallum Capital Group LLC and UBS Securities, with a maximum possible issuance of $125 million in Class A common stock. The funds raised are expected to support the company's strategic layout in high-power markets and AI infrastructure.

It is worth noting that, according to analysts, given the sharp stock price rise this year, the stock is currently considered overvalued relative to its estimated fair value.

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