Navitas Semiconductor NVTS Stock Surges 20% on AI Power Demand and Upgraded Outlook

TORRANCE, Calif. — Navitas Semiconductor Corporation shares rose 19.98% to close at $29.25 on May 22, 2026, on the Nasdaq as the gallium nitride and silicon carbide power semiconductor specialist benefited from continued investor interest in high-efficiency solutions for artificial intelligence data centers.

The stock traded as high as $29.54 during the session before pulling back slightly in after-hours trading to around $29.01. The move extended recent gains tied to the company's shift toward high-power markets.

Q1 2026 Financial Results

Navitas reported first-quarter 2026 revenue of $8.6 million on May 5, up 18% sequentially from $7.3 million in the fourth quarter of 2025. The sequential increase was driven by higher contributions from high-power markets, including AI data centers, grid and energy infrastructure, and industrial electrification.

Non-GAAP gross margin expanded to 39.0%. The company reported a GAAP net loss of $33.8 million, or $0.15 per share. On a non-GAAP basis, the loss per share was $0.04, beating consensus estimates of $0.05.

For the second quarter of 2026, Navitas guided revenue to $10.0 million, plus or minus $0.5 million, representing sequential growth of over 16% at the midpoint. Non-GAAP gross margin is expected at 39.25%, plus or minus 75 basis points.

Strategic Focus

Navitas has pursued its "Navitas 2.0" strategy, emphasizing high-power GaN and SiC solutions for AI data centers and energy infrastructure while reducing exposure to lower-margin consumer and mobile segments. High-power markets represented a larger portion of revenue in the first quarter.

The company highlighted new 800V solutions for AI data centers and grid infrastructure at PCIM 2026. These include SST solutions for medium-voltage to high-voltage DC conversion and power delivery boards.

Analyst Actions

Several firms raised price targets in early May 2026. Needham increased its target to $21 from $13. Baird raised its target to $20 from $9. Morgan Stanley lifted its target to $12.50 from $4.20, and Rosenblatt moved to $13 from $7.

Partnerships and Developments

Navitas secured a partnership with Cyrient in India for GaN-based products targeting next-generation power applications, including AI infrastructure and industrial systems. The company continues to advance its GeneSiC silicon carbide platform alongside GaNFast gallium nitride technology.

Capital Markets Activity

In May 2026, Navitas completed a $122 million ATM equity offering and launched a new $125 million ATM program. It also filed a $250 million mixed securities shelf. The company ended the first quarter with approximately $223.4 million in cash, cash equivalents and restricted cash.

Market Position

Navitas operates in the power semiconductor sector, competing in high-growth areas driven by AI power demands. The company's technology focuses on efficiency improvements critical for data centers and renewable energy applications. Shares have shown significant volatility in 2026, with strong year-to-date performance reflecting investor interest in AI-related power solutions.

Outlook

Navitas plans to report second-quarter 2026 results in early August. Management has emphasized disciplined spending and R&D investment in high-power initiatives. Revenue forecasts for 2026 were upgraded by an average of 12% in recent weeks according to some tracking services.