NEW YORK, June 3, 2026, 11:03 (EDT)
- Navitas shares climbed roughly 21% in late morning trade after the company said it is working with Nvidia’s MGX AI factory ecosystem.
- The company is displaying an 800-volt-to-6-volt power board at COMPUTEX 2026 in Taipei.
- Investors continue to look at losses, valuations that are still high and recent filings for new share issuances.
Navitas Semiconductor shares jumped Wednesday. The power-chip maker said it’s working with Nvidia’s MGX AI Factory ecosystem on power systems for new AI data centers.
Navitas shares jumped about 21% to $31.18, with volume topping 55 million shares. That puts the stock ahead of the iShares Semiconductor ETF, up around 1.6%, and outpaces gains for Vicor, Power Integrations, and Wolfspeed.
AI data centers are hitting power delivery constraints, not just facing chip shortages. Navitas said its 800 V-to-6 V DC-DC board—a direct current converter—will be on display at Nvidia’s AI Factory MGX ecosystem showcase during COMPUTEX 2026, June 2-5.
Navitas said the board cuts out the traditional 48-volt intermediate bus converter, so there’s no need for that extra power-conversion step in server trays. The company claims its design hits 97.5% peak efficiency, runs at 1 MHz switching frequency and delivers power density of 2,100 watts per cubic inch. That means more power fits into a smaller area.
CEO Chris Allexandre said in the company’s release that “power delivery” is now a key problem as AI workloads keep scaling. He pointed to the company’s gallium nitride and silicon carbide products, saying they can bring “higher power density” and improve thermal performance.
Gallium nitride (GaN) and silicon carbide (SiC) are semiconductor materials that help shift power more efficiently than traditional silicon for some high-voltage and high-frequency uses. Navitas is pushing both materials as central to its shift from its former mobile-charger focus, moving into AI data centers, the grid and industrial electrification.
Navitas is in the early stages of a shift. The company posted first-quarter revenue of $8.6 million, an 18% gain over the previous quarter but lower than $14.0 million in the same period last year. CFO Tonya Stevens said Navitas had “strong momentum” in high-power markets. Navitas said those markets saw about 35% year-over-year growth. Navitas Semiconductor
The move followed a 4.1% gain on Tuesday. MarketBeat pointed to new analyst price targets from Needham, Baird and Rosenblatt, but the consensus view stayed at “Hold” and the average target at $12.87. MarketBeat
Navitas shares have gained, but some analysts are staying cautious. Morgan Stanley’s Joseph Moore last week called the Navitas story “more roadmap than proof point,” per TipRanks. Moore stuck with an underweight rating and a $13.70 target. TipRanks
Nvidia news gave Navitas shares a jolt on Wednesday, but revenue is still a question. The company’s release didn’t mention an order or when shipments might start. Navitas has cautioned before it might not pull off its push into high-power markets. If design work doesn’t become actual sales, investors could end up overpaying for a business that remains unprofitable and small versus the rest of the chip sector.
Dilution is also a risk here. Navitas said in a May 11 SEC prospectus supplement that it could sell as much as $125 million of Class A common stock using an at-the-market offering, which allows the company to sell shares into the market over time.
Navitas issued 3,277,438 shares to meet earnout terms from its 2021 business combination, according to a May 22 filing. The same filing said up to 10 million shares could go to former Legacy Navitas holders and others if stock targets are hit before Oct. 19, 2026.
Navitas keeps trading like an AI power-infrastructure name at this point. The question is if the company can pull in enough revenue from its place in the Nvidia ecosystem to back a stock that’s already run hard.
