NEW YORK — Navitas Semiconductor Corp. shares jumped more than 7% in morning trading Wednesday, climbing to $20.64 as investors continued to pile into the gallium nitride and silicon carbide power chip specialist amid surging demand for energy-efficient solutions in artificial intelligence data centers and high-power applications.

The Nasdaq-listed company, a leader in next-generation power semiconductors, has emerged as one of the standout performers in the semiconductor sector in 2026. Year-to-date gains have exceeded 120%, with a particularly strong April that saw shares rise nearly 88% on short covering, AI optimism and strategic partnerships. Wednesday's move extended a multi-week rally fueled by product launches and growing visibility in the high-growth AI infrastructure market.

A key catalyst behind recent strength is Navitas' expanding presence in India. On May 11, partner Cyient Semiconductors launched seven new 650V GaN power ICs built on Navitas' technology platform. The family of chips targets AI data centers, electric vehicles, telecom infrastructure and fast chargers under India's "Make in India" initiative. The announcement sent shares to a record intraday high near $23.36 before settling higher on heavy volume.

Navitas CEO Chris Allexandre highlighted India as a strategic growth market, noting strong alignment with the country's push for........

© International Business Times