Stock Market Today, March 11: Navitas Semiconductor Surges After Launching New AI Data Center Power Platforms

2026-03-11 17:29:15 ET

Shares of Navitas Semiconductor (NASDAQ:NVTS) , developer of gallium nitride (GaN) and silicon carbide (SiC) power semiconductors for efficient power conversion, closed at $10.84, up 24.88% on Wednesday. Shares surged after the company launched new SiC MOSFET and AI-focused power platforms. Investors are watching how AI data center and power infrastructure demand translate into sustained revenue growth. Trading volume reached 54.7 million shares, coming in about 161% above its three-month average of 20.9 million shares. Navitas Semiconductor IPO'd in 2021 and has fallen 15% since going public.

The S&P 500 slipped 0.10% to finish Wednesday’s session at 6,775, while the Nasdaq Composite inched up 0.08% to close at 22,716. Among semiconductors and related devices, Wolfspeed closed at $18.2, up 9.77%, while ON Semiconductor ended at $59.24, down 0.59%, highlighting mixed sentiment among power-chip peers.

Navitas Semiconductor’s ambitions to reinvent itself took a tangible step forward today. Shifting its focus from mobile and consumer semiconductor sales to AI data centers, energy and grid infrastructure, high-performance computing, and industrial electrification, Navitas released two new semiconductor power packages that could set a new standard for the niche.

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