TORRANCE, California, May 8, 2026, 16:05 (PDT)
Navitas Semiconductor climbed roughly 15% Friday, with shares changing hands at $18.20. Investors piled in after first-quarter numbers revealed revenue moving higher for another quarter and a stronger tilt toward AI data-center and grid sectors. Latest figures pegged the company’s market cap near $4.2 billion.
Navitas is still posting losses, but investors are now pricing it more like a speculative AI-infrastructure play than just a mobile-charger outfit. Shares surged 88.1% in April, S&P Global Market Intelligence figures show, with The Motley Fool pointing to both momentum in semiconductors and a squeeze on shorts.
Navitas builds power semiconductors out of gallium nitride (GaN) and silicon carbide (SiC). Basically, these materials allow electricity to flow with less energy loss and fit into smaller components than traditional silicon — key factors now that AI server racks are swallowing more power while space gets squeezed.
Navitas reported first-quarter revenue of $8.6 million, up 18% compared with the previous quarter but down from $14.0 million a year ago. High-power markets jumped around 35% year over year and made up the “large majority” of sales. Looking ahead, the company set second-quarter revenue guidance at $10.0 million, give or take $0.5 million. Navitas Semiconductor
President and CEO Chris Allexandre told investors the quarter marked a return to top-line growth, with Navitas “meaningfully reaccelerating” its shift out of mobile and low-end consumer segments. The company’s focus is now locked on AI data centers, energy and grid infrastructure, performance computing, and industrial electrification. The Motley Fool
Tonya Stevens, the new Chief Financial Officer, noted that revenue landed above the high end of guidance. She expects high-power markets to continue fueling sequential growth through 2026. Stevens also pointed out that Navitas closed the quarter with $221 million in cash and cash equivalents, and reported zero outstanding debt.
Wall Street’s caught on, at least to a degree. Needham bumped its price target for Navitas up to $21 from $13, sticking with its Buy call after results and guidance outpaced forecasts. The firm pointed to Navitas’ move into high-power markets as a key driver.
At the core is an 800-volt direct-current power setup, a higher-voltage design meant to boost efficiency in AI data centers. Back in March, Navitas rolled out an 800 V-to-6 V power delivery board, claiming it delivers one-step conversion—scrapping the standard 48 V intermediate bus converter typically found in server trays.
Nvidia’s 800 VDC data-center electrical ecosystem isn’t short on competition. Navitas appears on the list next to Infineon Technologies, Power Integrations, and Texas Instruments—heavyweights with serious financial muscle, all eyeing the same infrastructure overhaul.
Still, there’s no shortage of risk shadowing the rally. Navitas booked a GAAP operating loss of $27.8 million for the quarter, and management flagged that its pivot to high-power hinges on several hurdles: customer qualification, turning design wins into actual revenue, whether the market embraces 800 V systems, and the challenge of going up against entrenched rivals wielding bigger R&D and manufacturing budgets.
Allexandre stopped short of calling the pivot finished. “Too early to declare victory,” he said, though he pointed to the company picking up speed in its transformation. For holders of NVTS stock, the question remains: can samples and power-board demos convert to real production orders before the stock price outruns the revenue? The Motley Fool
