Navitas Stock Is Gaining Thursday: What's Going On?

Navitas Semiconductor Corporation NVTS shares are trading higher Thursday after Nvidia Corporation NVDA selected the company to collaborate on 800V HVDC architecture.

What To Know: Nvidia’s 800V DC architecture aims to support efficient and scalable power delivery for future AI workloads, with goals of improving reliability, boosting energy efficiency and simplifying infrastructure.

The architecture specifically targets up to a 5% increase in end-to-end power efficiency, a 70% reduction in maintenance costs and lower cooling expenses.

Navitas provides GaN and SiC-based power solutions for AI data centers and will support Nvidia’s 800V HVDC power infrastructure.

“We are proud to be selected by NVIDIA to collaborate on their 800 HVDC architecture initiative. Our latest innovations in high-power GaN and SiC technologies have seen world firsts and have created new inflections into markets such as AI datacenters and electric vehicles”, said Gene Sheridan, CEO and co-founder of Navitas.

Following the news, Rosenblatt analyst Kevin Cassidy maintained a Buy rating on Navitas and raised the price target from $4 to $6.

The stock is moving on higher-than-normal session volume at 135.36 million shares. The company’s average session volume over the past 100 days is 4.81 million shares, per data from Benzinga Pro.

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NVTS Price Action: At the time of writing, Navitas stock is trading 120% higher at $4.21, according to data from Benzinga Pro.

Image: This illustration was generated using artificial intelligence via Midjourney.