Navitas shares surge 17.58% after hours on strategic alliances with Cyient and Avnet expanding GaN tech in AI, mobility, energy markets.

Navitas Semiconductor Corporation surged 17.58% in after-hours trading following the announcement of strategic partnerships aimed at expanding its GaN technology ecosystem. The company announced a collaboration with Cyient Semiconductors to accelerate GaN adoption in India’s AI, mobility, and energy markets, alongside an expanded distribution agreement with Avnet to strengthen global reach in high-growth sectors like AI data centers and renewable energy. These moves highlight Navitas’ focus on leveraging GaN and SiC technologies to capture emerging markets, aligning with the stock’s upward trajectory driven by optimism around market expansion and innovation. The partnerships underscore the firm’s ambition to lead in high-voltage applications, reinforcing investor confidence despite short-term profitability challenges.