Where Will Navitas Be in 3 Years?
Small-cap chipmaker Navitas Semiconductor (NASDAQ: NVTS) has been on a wild ride this year. The company began the year as a modest designer of gallium nitride (GaN) chips mainly targeting the mobile phone charger market. However, things changed dramatically after Nvidia named Navitas as one of the partner companies that may help co-design its next-generation 800-volt DC artificial intelligence (AI) factory architecture.
That disclosure caused the stock to skyrocket, which in turn enabled Navitas to raise about $100 million through equity offerings. Flash forward six months, and Navitas followed the early-year raise with another $100 million offering last week.
The company then replaced its CEO this past summer in order to mount a large pivot and complete strategy change to the new AI opportunity.
Source Fool.com
