Nvidia has partnered with Navitas Semiconductor to develop high-efficiency power delivery systems for next-generation AI workloads. The partnership aims to improve scalability and performance in artificial intelligence applications.
Navitas, a pure-play power-semiconductor company, reported revenue of $83.3 million last year but booked a net loss of about $84.6 million. The company’s shares were trading at $1.91 on Wednesday before the announcement.
Nvidia is working with several other companies, including Infineon and Texas Instruments, to develop a new power distribution architecture. Navitas is one of these partners, along with Eaton and data center service provider Vertiv.
The partnership has sent Navitas’ shares soaring by over 130% in recent trading, moving the stock into positive territory for the year. This boost follows similar gains from other Nvidia-affiliated companies, such as Serve Robotics and WeRide.
Source: https://www.investopedia.com/this-chip-stock-is-soaring-on-an-nvidia-partnership-11739926