Vicor Corporation (VICR) shares skyrocketed 39.54% in a 24-hour period following the release of its second-quarter financial results, which significantly exceeded analyst expectations. The power module manufacturer reported a remarkable turnaround, driven by robust revenue growth, a substantial patent litigation settlement, and an optimistic outlook for its AI-related products.

The company's Q2 revenue surged to $141 million, marking a 64.3% increase year-over-year and far surpassing the analyst consensus of $96.43 million. This impressive growth was bolstered by a $45 million patent litigation settlement. Vicor's earnings per share reached $0.91, dramatically beating the expected $0.18. The company's profitability also saw a significant boost, with gross margin improving to 65.3% from 49.8% in the same period last year.

Looking ahead, Vicor's CEO, Dr. Patrizio Vinciarelli, expressed optimism about the company's future, particularly in the AI sector. He highlighted the development of high-performance ChiPs and second-generation VPD for AI applications, which are expected to increase product revenues and utilization of the company's first ChiP fab. This forward-looking statement, coupled with the company's strong financial performance and successful patent litigation outcomes, has clearly resonated with investors, driving the substantial stock price increase.