Monolithic Power Systems Gains Amid Strong Blackwell Platform Performance

Monolithic Power Systems, Inc. (MPWR) is a leading American semiconductor company providing power electronics solutions. In its Q4 2025 investor letter, Brown Advisory Mid-Cap Growth Strategy highlighted MPWR, citing concerns around market share at NVIDIA easing, and expanding exposure to other AI compute architectures. MPWR entered the year amid concerns, but its Blackwell platform proved better than feared, and exposure to other AI architectures should reduce customer concentration over time.