By Connor Hart
Navitas Semiconductor will collaborate with Nvidia on the chip giant's next-generation 800V HVDC architecture. The new device will support systems that power Nvidia's GPUs, aiming to establish efficient and scalable power for next-generation artificial-intelligence workloads. It will additionally look to improve reliability and reduce infrastructure complexity by directly converting grid power to 800V HVDC at the data center perimeter, eliminating several steps from the current process. In after-hours trading, shares of Navitas nearly triple, to $5.55, while shares of Nvidia are roughly flat.
Urban Outfitters posted double-digit sales growth in the first quarter with revenue increasing at each of its main brands, an upbeat sign as other retailers said macroeconomic uncertainty was dampening demand. The fashion conglomerate, which in addition to its namesake brand also owns Anthropologie and Free People chains, showed demand for its products holding up in recent months, with sales rising 11% in the first quarter on a 5% increase in same-stores sales. Profit improved across each brand as well. Shares rise 15%, to $68.50, in post-market trading, which would surpass the all-time high the company hit on Friday.
Lumen Technologies's mass-markets fiber business will be substantially bought by AT&T, which said the deal will accelerate high-speed fiber internet access for millions of Americans. The acquisition, expected to close in the first half of 2026, will create jobs in metro areas across 11 states and improve critical connectivity infrastructure, AT&T said. The deal includes about 1 million Lumen fiber subscribers across more than 4 million locations, all of whom will transition to become AT&T Fiber customers. Lumen shares climb 12%, to $4.25, in after-hours trading.
LiveRamp logged higher-than-expected adjusted earnings and revenue in its fiscal fourth quarter. The data-software company notched adjusted earnings of 30 cents a share on sales of $188.7 million for its three-months ended March 31, compared with analyst views for adjusted earnings of 28 cents on sales of $185.4 million. The company issued an upbeat outlook for the current year, with the midpoint of its revenue forecast topping Wall Street estimates. Shares rise 7.4%, to $30.15, in post-market trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
May 21, 2025 19:10 ET (23:10 GMT)
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