The share price of Navitas Semiconductor (NASDAQ: NVTS) has surged more than 438% over the past year. Its advanced power chips made from gallium nitride (GaN) and silicon carbide (SiC) can help data centers convert power more efficiently. This will be a crucial need over time as artificial intelligence (AI) workloads increase electricity consumption.
Navitas is already making progress in its pivot toward the data center market, an opportunity it estimates at $3.5 billion. Mobile now represents less than 25% of revenue, and AI-related demand is expected to drive revenue through 2026.
Link: https://finance.yahoo.com/news/navitas-stock-ready-break-2026-133500593.html