New York, May 21, 2026, 13:11 (EDT)
- Navitas shares rose about 5.3% in early afternoon trading, after touching a fresh intraday high.
- The company said CEO Chris Allexandre and CFO Tonya Stevens will meet investors at Craig-Hallum and Evercore conferences.
- The rally still leans on a bigger thesis: AI data centers need new power-delivery chips, but Navitas remains loss-making.
Navitas Semiconductor shares climbed on Thursday, extending a sharp run in the power-chip maker as investors looked past a routine conference announcement and kept buying into its AI data-center power story.
The stock was recently up 5.3% at $24.20, after moving as high as $24.40, with more than 22 million shares changing hands, market data showed. Google Finance showed the shares trading near a 52-week high around the same time.
The move came during regular Nasdaq trading. Nasdaq’s listed U.S. market hours run from 9:30 a.m. to 4 p.m. Eastern, and its 2026 holiday calendar shows the next closure is Memorial Day on May 25.
Navitas said earlier on Thursday that Allexandre and Stevens would host one-on-one meetings at the Craig-Hallum Institutional Investor Conference on May 28 in Minneapolis and at Evercore’s Global TMT Conference on June 3 in San Francisco, where a fireside chat is scheduled.
That is not usually market-moving news by itself. The reason it matters now is that Navitas has become one of the smaller listed names tied to the shift toward high-voltage power systems for AI data centers, where electricity demand and rack density are forcing changes in how power is converted and delivered.
Navitas makes gallium nitride, or GaN, and silicon carbide, or SiC, chips. In plain terms, these materials can handle power conversion more efficiently than traditional silicon in some high-voltage uses, a feature investors see as important for AI servers and grid equipment.
The company said this month that first-quarter revenue rose 18% sequentially to $8.6 million, though it was down from $14.0 million a year earlier. Navitas also forecast second-quarter revenue of about $10 million at the midpoint, which would be more than 16% sequential growth.
“The first quarter marked a return to top-line sequential growth,” Allexandre said in the company’s May 5 earnings release, adding that Navitas was moving away from mobile and consumer markets and toward high-power markets with GaN and high-voltage SiC products. Navitas Semiconductor
Stevens said the company saw “strong momentum and growth” in targeted high-power markets, with revenue up 18% from the prior quarter and non-GAAP gross margin improving by 30 basis points. Non-GAAP excludes some accounting costs; a basis point is one-hundredth of a percentage point. Navitas Semiconductor
The competitive backdrop is getting hotter. Reuters reported this week that Analog Devices agreed to buy Empower Semiconductor for about $1.5 billion in cash to strengthen its AI-focused power-management portfolio, underscoring wider demand for power-delivery technology in compute-heavy systems.
Navitas’ own bull case still traces back to Nvidia-related infrastructure. The company said last year that its GaN and SiC technologies were being developed to support Nvidia’s 800-volt high-voltage direct current, or HVDC, architecture for data-center power systems. HVDC means power is distributed at a higher direct-current voltage, which can reduce conversion steps and copper use in large AI racks.
The risk is that the stock may be running ahead of proof. Navitas reported a first-quarter GAAP operating loss of $27.8 million and a net loss of $33.8 million, and the company itself warned that demand for GaN- and SiC-based products in 800-volt AI data-center power applications depends on the acceptance and timing of those emerging architectures.
That leaves the next test with customers, not just traders. Investors will be watching whether management can turn conference meetings, design wins and Nvidia-linked technology claims into larger orders, while peers with deeper balance sheets press into the same AI power market.
