Navitas Semiconductor Corp (NVTS) saw its stock surge 5.05% in Tuesday's trading session, continuing its impressive run following a recent partnership with Nvidia. The company's stock has been on a tear since last month when it was selected to collaborate on Nvidia's 800 V HVDC architecture, resulting in a remarkable 164% single-day gain on May 22.

The latest rally was fueled by Navitas' announcement of a new collaboration with BrightLoop Converters, a French power electronics company. This partnership focuses on supporting BrightLoop's latest series of hydrogen fuel-cell chargers specialized for agricultural transportation equipment. The news has further solidified investor confidence in Navitas' growth potential in the power electronics sector.

During Baird's annual tech conference on Tuesday, Navitas CEO Gene Sheridan hinted at broader opportunities beyond the Nvidia partnership. "Everybody talks about NVIDIA, but data center and AI is not just about NVIDIA," Sheridan stated, suggesting that other hyperscalers are likely to adopt high-voltage solutions. This outlook has sparked optimism about Navitas' future prospects in the rapidly evolving AI and data center markets.

The company's recent filing of a prospectus for an at-the-market program to sell up to $50 million in common stock has also been viewed positively by investors. This move is seen as a strategic step to extend Navitas' financial runway ahead of the anticipated release of the 800 V HVDC systems in 2027, further boosting investor confidence in the company's long-term plans.