Shares of Vicor gained after the company said it is purchasing two parcels of land in New Hampshire to build new fabrication facilities for its converter housed in a package, or ChiP, power modules.

The stock climbed 12%, to $199.59, late Friday morning and is up 82% year-to-date.

The Andover, Mass., company on Friday said it is buying a 334,000-square-foot building on a 66-acre plot in Merrimack, N.H., as well as a 54-acre plot in Hooksett. The two sites would have a combined footprint of almost one million square feet and support the build-out of the company's ChiP Fab-2 and Fab-3 projects.

The move comes as the company's Fab-1, a 320,000-square-foot facility in Andover, Mass., is nearing capacity, Vicor said.

"This expansion will fill voids in supply chains increasingly challenged by technical limitations and recurring disruptions caused by suppliers of infringing power systems," the company said. "Vicor's licensing practice and future capacity from a multiplicity of ChiP fabs provide predictability and performance to the AI hardware ecosystem."