Navitas Semiconductor Corp (NVTS) shares surged 5.05% in pre-market trading on Wednesday, continuing its impressive run following recent partnership announcements and positive industry outlook. The company, which specializes in gallium nitride (GaN) and silicon carbide (SiC) power semiconductors, has been riding a wave of investor enthusiasm since its collaboration with Nvidia was announced last month.

The latest rally was fueled by Navitas' announcement of a new partnership with BrightLoop Converters, a French power electronics company. 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. Additionally, Navitas CEO Gene Sheridan's comments at Baird's annual tech conference have further boosted investor confidence. Sheridan suggested that opportunities extend beyond Nvidia, stating, "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."

Navitas' stock has seen remarkable growth since its collaboration with Nvidia was announced on May 22, experiencing a 164% single-day gain. The company's involvement in Nvidia's 800 V HVDC architecture has sparked significant interest in its GaN and SiC chip technologies. With the stock up 226% since May 21 and 74% year-to-date, Navitas appears to be gaining momentum as it prepares for the release of the 800 V HVDC systems in 2027. The company's recent filing of a prospectus for an at-the-market program to sell up to $50 million in common stock is seen as a strategic move to extend its financial runway ahead of this anticipated release.