Navitas Semiconductor announced on June 3 that it has joined the NVIDIA MGX ecosystem to jointly advance the development of 800V DC AI infrastructure, and it showcased its 800V to 6V DC distribution board (PDB) at COMPUTEX 2026 on May 29. The news drove NVTS shares up 19.26% on Wednesday.
800V to 6V Distribution Board Technical Specifications: Confirmed Official Figures
The 800V to 6V DC distribution board that Navitas showcased at COMPUTEX 2026 is its core product in the NVIDIA MGX ecosystem collaboration. According to official figures:
Number of GaNFast FETs: 16, each rated at 650V, with a conduction resistance of 11 milliohms
Packaging: DFN8×8 dual-sided heat dissipation
Target peak efficiency: 97.5%
Switching frequency: 1MHz
Power density: 2100W/in³
Thickness: about 20% thinner than a smartphone
Key design innovation: eliminates the conventional 48V intermediate bus converter (IBC) inside a server rack mount, directly enabling power distribution from an 800V rack to the GPU to improve system efficiency and power density. The company currently has more than 300 licensed patents or patents in the application process.
Q1 FY2026 Financial Results: Confirmed Revenue, EPS Loss, and Funding Update
Based on Navitas Semiconductor’s published Q1 FY2026 financial results:
Q1 FY2026 revenue: $8.6 million (above market expectations of $8.18 million)
Loss per share: $0.15 (market expected loss per share of $0.05)
Equity offering at market price: raised $122 million
Next funding agreement: reached a sales agreement with Craig-Hallum Capital Group LLC and UBS Securities, allowing the sale of up to $125 million of Class A common stock; proceeds will be used for strategic initiatives in the high-power market and AI infrastructure
Stock Performance and Valuation: Analysts’ Confirmed Assessments
The confirmed stock price data for NVTS is as follows:
Wednesday increase: +19.26%
Cumulative gain over the past year: +335%
Year-to-date increase: +262%
Market cap: about $6.21 billion
Analysts have pointed out that given NVTS’s sharp rise since the start of the year, its stock valuation is currently relatively high compared with their estimated fair value. Analysts did not provide specific target prices or details of any rating adjustments.
Frequently Asked Questions
Why can Navitas Semiconductor’s 800V distribution board eliminate the traditional 48V intermediate bus converter?
The power supply chain for conventional AI server racks first needs to step down high voltage to a 48V intermediate voltage, and then convert it to the lower voltage required by the GPU; each conversion incurs power loss. Navitas’s 800V to 6V distribution board integrates 16 high-voltage GaNFast FETs, enabling direct conversion from 800VDC rack voltage to the GPU operating voltage and eliminating the intermediate conversion step, targeting peak efficiency of 97.5%.
What is the business significance of the NVIDIA MGX ecosystem collaboration for Navitas Semiconductor?
NVIDIA MGX is NVIDIA’s modular AI server ecosystem, and being a partner means Navitas’s 800V power solution is incorporated into NVIDIA’s official hardware ecosystem. For Navitas, this represents direct connection to the procurement decision chain for AI data center construction, rather than only participating as an independent supplier in market competition.
NVTS’s Q1 FY2026 loss per share is higher than expected—should it be a focus?
NVTS reported a Q1 FY2026 loss per share of $0.15, higher than the market’s expected $0.05, a threefold difference. Analysts also noted that NVTS’s current valuation is higher than its estimated fair value, and the 262% gain year-to-date has already fully reflected the market’s positive expectations. Navitas’s latest funding ($122 million market-priced equity offering) and the subsequent sales agreement of up to $125 million indicate the company needs to continue replenishing liquidity.
