Navitas Semiconductor (NVTS 18.23%) stock is posting big gains in Wednesday's trading despite bearish pressures for the broader market. The company's share price was up 22.5% as of 1:30 p.m. ET despite the S&P 500 being down 0.7% and the Nasdaq Composite being down 0.5%.
While rising oil costs and bond yields are weighing on the broader market today, Navitas's valuation is surging thanks to news that the company's tech is being featured by Nvidia at events in Taipei, Taiwan. Navitas stock is now up 346% year to date as of this writing.
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Nvidia gives Navitas stock another boost
Navitas published a press release today stating that the company was honored to have participated in Nvidia's Partner Ceremony on May 29 at the Taipei Nangang Exhibition Center. The company also announced that its announcing 800 V-to-6 V DC-DC power delivery board (PDB) is being featured at the Computex 2026 conference in Taiwan, which runs from June 2 through June 5. Navitas was featured as part of a showcase for the Nvidia AI Factory MGX platform, and its stock has frequently seen big moves in relation to its partnership with Nvidia.
NASDAQ: NVTS
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What's next for Navitas?
Navitas's partnership with Nvidia seemingly positions the tech specialist to score some big wins as the artificial intelligence infrastructure buildouts continue at a rapid pace. On the heels of the company's explosive rally, Navitas is now valued at roughly $7.5 billion and trades at approximately 176 times this year's expected sales. While that highly growth-dependent valuation profile comes with a lot of risk, the company has been posting very impressive business momentum and seemingly has a long growth runway.
