Should You Buy Navitas Semiconductor Stock Now?

Leading tech companies are investing heavily in data centers for artificial intelligence (AI). This is opening up opportunities for Navitas Semiconductor (NASDAQ: NVTS).

Navitas uses specialized materials, such as gallium nitride (GaN), to make semiconductors that convert and control power in consumer devices like smartphones. But it's now pivoting to the data center market. Data centers will need greater energy efficiency to keep costs down and run next-generation chips.

The stock has nearly tripled in value over the past year, as management expects the business to begin benefiting from this opportunity over the next few years.

Source Fool.com