By Mackenzie Tatananni
Shares of Navitas Semiconductor charged higher Tuesday, just weeks after a partnership with Nvidia saw the stock more than double in value.
Navitas shares were up 3% at $5.69. The S&P 500 and tech-heavy Nasdaq Composite both we rising modestly.
The latest gains came on the heels of a collaboration with BrightLoop Converters, a French power electronics company, in support of its latest series of hydrogen fuel-cell chargers specialized for agricultural transportation equipment.
The stock rose triple-digits last month after Nvidia selected Navitas to collaborate on its 800 V HVDC architecture. Navitas saw its largest-ever same-day percentage increase on May 22, surging 164%.
Shares remain up 189% since markets closed on May 21, according to Dow Jones Market Data.
The stock rallied again on May 27 after Navitas filed a prospectus for an at-the-market program with the Securities and Exchange Commission. The company plans to sell up to $50 million in common stock as it extends its runway ahead of the release of the 800 V HVDC systems in 2027.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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(END) Dow Jones Newswires
June 03, 2025 09:56 ET (13:56 GMT)
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