New York, May 21, 2026, 13:11 (EDT)
- Navitas shares climbed around 5.3% early in the afternoon, hitting a new intraday high.
- CEO Chris Allexandre and CFO Tonya Stevens are set to meet with investors at the Craig-Hallum and Evercore conferences, the company said.
- The rally is still tied to the main idea that AI data centers are hungry for new power-delivery chips. Navitas is still losing money.
Navitas Semiconductor shares rose again on Thursday. The power-chip maker extended its rally as investors shrugged off a routine conference announcement and continued to buy into its AI data-center power angle.
The stock climbed 5.3% to $24.20 in recent trading, hitting $24.40 at its high. Volume topped 22 million shares, according to market data. Google Finance also pegged the shares near a 52-week high around that point.
Nasdaq shares moved during regular session hours. The exchange’s U.S. market is open from 9:30 a.m. till 4 p.m. Eastern. According to its 2026 holiday schedule, the next closure is for Memorial Day on May 25.
Navitas said Thursday that Allexandre and Stevens will hold one-on-one meetings at the Craig-Hallum Institutional Investor Conference in Minneapolis on May 28, and at Evercore’s Global TMT Conference in San Francisco on June 3, where they also plan a fireside chat.
This type of news doesn’t often move markets. But Navitas stands out now because it’s one of the smaller stocks linked to high-voltage power for AI data centers. Those centers are seeing more demand and higher rack density, which has pushed companies to rethink how they convert and supply power.
Navitas builds chips using gallium nitride (GaN) and silicon carbide (SiC). These materials do better than silicon for some high-voltage power conversion jobs. Investors say that’s key for AI server hardware and grid gear.
Navitas said first-quarter revenue jumped 18% from the prior quarter to $8.6 million, but that was below the $14.0 million posted a year ago. The company guided to about $10 million in revenue for the second quarter at the midpoint, which would be more than 16% growth from the first quarter.
“The first quarter marked a return to top-line sequential growth,” Allexandre said in Navitas’ May 5 earnings release. He said the company is shifting away from mobile and consumer markets, going after high-power markets with its GaN and high-voltage SiC products. Navitas Semiconductor
Stevens said the company had “strong momentum and growth” in targeted high-power markets. Revenue rose 18% quarter-on-quarter. Non-GAAP gross margin gained 30 basis points. Non-GAAP cuts out some accounting charges; a basis point is one-hundredth of a percent. Navitas Semiconductor
Competition is picking up. Reuters said this week that Analog Devices will buy Empower Semiconductor for around $1.5 billion in cash to add to its AI power-management business. The deal points to more demand for power-delivery gear in data-heavy computing systems.
Navitas’ bullish pitch still ties back to Nvidia’s data center buildout. Last year, the company said its GaN and SiC chips are in development for Nvidia’s 800-volt HVDC power systems. This HVDC approach moves power at higher DC voltages to cut down conversion steps and copper in big AI racks.
Navitas may be getting ahead of itself. The company posted a first-quarter GAAP operating loss of $27.8 million and a net loss of $33.8 million. Navitas also warned that demand for its GaN- and SiC-based products in 800-volt AI data center power uses will depend on how quickly those new architectures get accepted.
That puts the focus on actual customers instead of only traders. Investors are waiting to see if management can turn conference talks, design contracts, and Nvidia-related tech pitches into bigger orders. At the same time, rivals with stronger balance sheets are going after the same AI power market.
