Why Navitas Semiconductor Is Skyrocketing Today (Hint: Nvidia Has a New Partner)
Shares of Navitas Semiconductor (NASDAQ: NVTS) are skyrocketing on Thursday. The company's stock soared an incredible 156% as of 1:57 p.m. ET, and as much as 161.8% earlier in the day's trading. The remarkable gain comes as the S&P 500 (SNPINDEX: ^GSPC) gained 0.2% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) jumped 0.6%.The semiconductor company announced a new partnership with artificial intelligence (AI) chip giant Nvidia after the market closed yesterday.Navitas announced Wednesday that Nvidia has selected the company to help power its next-generation AI data center systems that will include the much anticipated Rubin chips, the upcoming successor to its current, industry-leading Blackwell chips.Continue reading
Shares of Navitas Semiconductor (NASDAQ: NVTS) are skyrocketing on Thursday. The company's stock soared an incredible 156% as of 1:57 p.m. ET, and as much as 161.8% earlier in the day's trading. The remarkable gain comes as the S&P 500 (SNPINDEX: ^GSPC) gained 0.2% and the Nasdaq Composite (NASDAQINDEX: ^IXIC) jumped 0.6%.
The semiconductor company announced a new partnership with artificial intelligence (AI) chip giant Nvidia after the market closed yesterday.
Navitas announced Wednesday that Nvidia has selected the company to help power its next-generation AI data center systems that will include the much anticipated Rubin chips, the upcoming successor to its current, industry-leading Blackwell chips.
