By Mackenzie Tatananni
Shares of Navitas Semiconductor experienced a triple-digit percent gain Thursday after the company unveiled a partnership with artificial-intelligence heavyweight Nvidia.
Navitas, which has a market capitalization of under $400 million, surged 125% to $4.30, putting it on pace for its largest same-day increase on record, according to Dow Jones Market Data. The sharp ascent came after Nvidia selected Navitas to collaborate on its 800 V HVDC architecture.
The new device will support systems that power Nvidia's graphics processing units, in a bid to "establish high-efficiency, scalable power delivery for next-generation AI workloads," Nvidia said.
Navitas, founded in 2014, specializes in gallium nitride semiconductors, which are meant to save energy while supporting higher power density. Despite Thursday's momentous gains, the stock remains down 77% from its record closing high of $20.16, which it notched on Nov. 15, 2021.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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(END) Dow Jones Newswires
May 22, 2025 12:24 ET (16:24 GMT)
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