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License agreement provides Magnachip access to Navitas’ GeneSiC™ Gen 4 and Gen 5 SiC technologies spanning 1200 V, 2300 V, 3300 V and higher voltages, supported by Navitas’ supply chain and materials ecosystem

Targeting energy and grid infrastructure, energy storage, industrial electrification, automotive and other high-power systems in Korea

TORRANCE, Calif. and SEOUL, South Korea, July 23, 2026 (GLOBE NEWSWIRE) -- Navitas Semiconductor Corporation (Nasdaq: NVTS), an industry leader in next-generation GaNFast™ gallium nitride (GaN) and GeneSiC™ silicon carbide (SiC) power semiconductors, and Magnachip Semiconductor Corporation (NYSE: MX), a designer and manufacturer of analog and mixed-signal power semiconductor platform solutions, today announced a strategic partnership to accelerate adoption of SiC technologies in high-voltage (HV) and ultra-high-voltage (UHV) power markets. 

Under the terms of the agreement, Magnachip will license Navitas’ GeneSiC™ Trench-Assisted Planar™ (TAP) technology to enter the HV and UHV SiC markets. The license covers 1200 V, 2300 V, 3300 V and higher voltage GeneSiC technologies, enabling Magnachip to build on Navitas’ proven SiC device platforms for next-generation power conversion applications.  

Magnachip will also gain access to Navitas’ SiC supply chain and materials ecosystem, supporting faster market entry. At the same time, the technology is planned to be ported, qualified, and internalized at Magnachip’s fab in  South Korea. The companies expect this approach to help accelerate Magnachip’s entry into SiC while maintaining continuity with Navitas’ established technology and materials base. The licensed technologies are expected to support next-generation applications including energy and grid infrastructure, energy storage, industrial electrification, automotive and other high-power systems. 

The companies also stated that the agreement encompasses broader engagement beyond SiC. Additional areas of partnership are expected to be detailed and announced later. 

“This strategic partnership with Magnachip reflects our long-term vision to broaden GeneSiC adoption across high-voltage and ultra-high-voltage power markets,” said Chris Allexandre, President and CEO of Navitas. “By licensing our proven GeneSiC technologies and supporting Magnachip through our supply-chain and materials ecosystem, we are creating a path to scale advanced SiC solutions more rapidly while enabling a deeper, long-term collaboration between our companies.” 

“This agreement opens an important new market opportunity for Magnachip in high-voltage and ultra-high-voltage SiC,” said Chae Lee, Chief Executive Officer of Magnachip. “The addition of GeneSiC technology complements our existing MOSFET and power semiconductor portfolio and positions Magnachip to serve customers that require higher efficiency, higher voltage capability and more reliable power conversion solutions.” 

For more information about the partnership and related products, please contact a Navitas representative or write to [email protected]. 

Navitas Contact Information

Vipin Bothra
[email protected]

Navitas Investor Contacts

Leanne Sievers | Brett Perry | Shelton Group
[email protected]

Magnachip Contact Information

Kyeongah Cho
[email protected]

Magnachip Investor Contact

Mike Bishop | Bishop IR, LLC
[email protected]

About Navitas

Navitas Semiconductor (Nasdaq: NVTS) is a next-generation power semiconductor leader in gallium nitride (GaN) and IC integrated devices, and high-voltage silicon carbide (SiC) technology, driving innovation across AI data centers, performance computing, energy and grid infrastructure, and industrial electrification. With more than 30 years of combined expertise in wide bandgap technologies, GaNFast™ power ICs integrate GaN power, drive, control, sensing, and protection, delivering faster power delivery, higher system density, and greater efficiency. GeneSiC™ high-voltage SiC devices leverage patented trench-assisted planar technology to provide industry-leading voltage capability, efficiency, and reliability for medium-voltage grid and infrastructure applications. Navitas has over 300 patents issued or pending and is the world’s first semiconductor company to be CarbonNeutral®-certified.

Navitas Semiconductor, GaNFast, GaNSense, GaNSafe, GeneSiC, and the Navitas logo are trademarks or registered trademarks of Navitas Semiconductor Limited or affiliates. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

About Magnachip Semiconductor

Magnachip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal power semiconductor platform solutions for a range of applications including industrial, automotive, communications, consumer and computing. Magnachip’s power solutions portfolio includes MOSFET and power IC technologies designed to improve power efficiency and system performance across high-value electronic systems.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are attempts to predict or indicate future events or trends or similar statements that are not a reflection of historical fact. Forward-looking statements are not predictions of actual future performance. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions and expectations. For Navitas, these and other risk factors are discussed in the Risk Factors section of its most recent annual report on Form 10-K, as updated in its most recent quarterly report on Form 10-Q, and in other documents filed with the SEC. Magnachip’s risks are discussed in its most recent annual report on Form 10-K, as updated in its most recent quarterly report on Form 10-Q, and other documents filed with the SEC. If any of these risks materialize or if assumptions underlying forward-looking statements prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Statements may be identified by the use of words such as “we expect,” “are expected to be,” “estimate,” “plan,” “project,” “forecast,” “intend,” “anticipate,” “believe,” “seek,” or other similar expressions. Forward-looking statements are made based on estimates and forecasts of financial and performance metrics, projections of market opportunity and current indications of customer interest, all of which are based on various assumptions. All such statements are based on current expectations of the management of Navitas and Magnachip

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6918420e-4157-4ff2-8510-67143d055ea5

Key Takeaways NVTS is targeting 800V AI power systems with new GaN and SiC products for AI power systems.NVTS launched new GaN and SiC products, with multiple AI projects advancing toward commercial production.NVTS' AI infrastructure revenues rose 50% sequentially as high-power markets drove first-quarter growth. Navitas Semiconductor (NVTS - Free Report) is positioning itself to benefit from the growing shift toward 800-volt (800V) power architecture in AI data centers. As AI workloads become more power-intensive, hyperscalers are moving to higher-voltage power systems to improve efficiency and support higher power levels. This shift is expected to increase the demand for NVTS' gallium nitride (GaN) and silicon carbide (SiC) power chips and create a significant growth opportunity for the company's high-power business.

The move to 800V power systems increases the amount of GaN and SiC content used in each AI system. Management expects power supply units to increase from about 5-10 kilowatts to 18.5 kilowatts for NVIDIA systems and up to 25-30 kilowatts for other hyperscalers. As power levels increase, Navitas expects the amount of SiC content per rack to increase by about 2.5 times. GaN demand is expected to rise as more power conversion moves inside AI racks, where higher efficiency and faster switching are needed. These factors create a larger revenue opportunity per AI system for NVTS.

To support this opportunity, Navitas has launched new GaN and SiC products for AI power systems. During the first quarter of 2026, the company launched a 20-kilowatt 800V-to-6V GaN platform for AI data centers and introduced new Gen 5 SiC products for AI power supplies. The above-mentioned products are being tested by OEMs and power supply vendors, and several projects have moved from device-level testing to board-level testing, bringing them closer to commercial production.

The AI opportunity is already supporting the company's business. Revenues in the first quarter increased 18% sequentially, driven by growth in high-power markets. Further, AI infrastructure revenues grew 50% sequentially, and the company expects this business to continue growing through 2026. As more AI data centers adopt 800V power systems, Navitas is well-positioned to benefit from higher chip content and increasing demand for its power semiconductor products.

How Competitors Fare Against NVTSThe company faces strong competition from ON Semiconductor (ON - Free Report) and STMicroelectronics (STM - Free Report) in the race to supply high-voltage solutions for AI data centers.

In June 2026, ON Semiconductor introduced GaNEXUS, a new GaN power semiconductor portfolio designed for AI data centers, industrial automation, robotics and energy infrastructure applications. This new portfolio includes GaNEXUS FETs with voltage ratings from 40V to 650V, along with 650V GaNEXUS Smart devices that include built-in protection features to simplify system design and improve reliability. The new devices provide faster switching speeds, lower switching losses, higher power density and better thermal performance than conventional silicon-based power devices to help customers build smaller and more efficient power systems.

STMicroelectronics introduced new 700V GaN power semiconductors in May 2026, designed to improve energy efficiency and power density in AI servers, robotics, industrial systems and advanced consumer applications. The new PowerGaN devices are designed for high-voltage power supplies and support reliable operation in high-power applications. The devices should help improve power conversion efficiency beyond what is possible with conventional silicon-based technologies.

NVTS' Price Performance, Valuation & EstimatesShares of Navitas Semiconductor have rallied 95.9% year to date compared with the Zacks Electronics – Semiconductors industry’s growth of 46%.

NVTS YTD Price Return Performance
Image Source: Zacks Investment Research

From a valuation standpoint, Navitas Semiconductor trades at a forward price-to-sales ratio of 55.9X, significantly higher than the industry’s average of 9.13X.

NVTS Forward 12-Month P/S Ratio
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The Zacks Consensus Estimate for Navitas Semiconductor’s 2026 bottom line is pegged at a loss of 17 cents per share. The estimates for 2026 loss per share have remained unchanged over the past 30 days.

Image Source: Zacks Investment Research

Navitas Semiconductor currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Key Takeaways Navitas' AI infrastructure unit grew 50% sequentially in Q1, including data centers and grid infrastructure.Navitas sees energy and grid as a $1-$1.8B serviceable market by 2030, driven by power demand.NVTS has no debt, $221M in cash, and a 2030 serviceable market outlook of $3.5B across GaN and SiC. Most investors know Navitas Semiconductor (NVTS - Free Report) for its artificial intelligence (AI) story. The company has attracted much attention through its partnership with NVIDIA (NVDA - Free Report) , its 800V data center power architecture, and its gallium nitride (GaN) technology aimed at next-generation AI infrastructure.

But there's another growth driver taking shape in the background. As AI data centers consume ever-larger amounts of electricity, the need to upgrade and modernize the power grid is becoming increasingly urgent. And that's creating a meaningful opportunity for Navitas' silicon carbide (SiC) business.

Navitas' $1.8B Grid OpportunityOn the company's last earnings call, management revealed that its AI infrastructure segment—which includes both data centers and grid infrastructure—grew 50% sequentially. CEO Chris Allexandre emphasized that the two markets are closely linked.

The opportunity could be larger than many investors appreciate. Traditional transformers were designed decades ago and are increasingly being stretched by today's power requirements. As AI data centers proliferate and electricity consumption rises, utilities may need more efficient solutions capable of handling higher power loads. Management believes solid-state transformers and other advanced power-conversion technologies could become an important part of that transition.

In other words, the AI boom is creating a massive new demand for electricity, and that demand is forcing utilities and infrastructure providers to invest in grid upgrades. Customer engagement in the U.S. grid infrastructure accelerated in the first quarter of 2026. Navitas is already seeing interest from customers involved in grid-scale solar, megawatt power conversion, and other energy infrastructure projects, with adoption expected to build through 2026 and 2027 before accelerating further later in the decade. Importantly, Navitas sees the energy and grid segment alone representing a $1-$1.8 billion serviceable market by 2030.

Navitas’ 2.3kV and 3.3kV SiC modules are designed for applications like battery energy storage systems, utility solar farms, and solid-state transformers. Its 250kW solid-state transformer demonstration uses GeneSiC technology for scalable 800V DC distribution.

NVTS Combined TAM Makes the Real CaseNavitas puts its total serviceable addressable market at $3.5 billion by 2030— split roughly 50-50 between GaN and high-voltage SiC technologies, with a combined CAGR exceeding 60%. Management is laser-focused on data centers and grid opportunity, which it identifies as the largest portion of that total addressable market.

Navitas maintains a strong balance sheet with no debt and substantial liquidity. The company ended the first quarter of 2026 with $221 million in cash and cash equivalents. This financial position provides flexibility to continue investing in research and development, customer engagements, and product commercialization without immediate financing pressure. 

Basically, the AI and grid infrastructure are not separate investment themes. They are, in fact, two sides of the same story. AI is driving an unprecedented increase in power demand, while grid modernization is the response required to support that demand.

Because Navitas has exposure to both data center power systems through GaN and grid infrastructure through high-voltage SiC, it sits at the intersection of these trends. Investors focused solely on the AI narrative may be missing a second growth engine that could become increasingly important over the next several years.

Competitive Landscape: onsemi & STMicroelectronicsonsemi (ON - Free Report) has built a strong position in energy storage systems (ESS), with management citing market share approaching 60% in string ESS and microgrid applications, and expecting revenues from these segments to grow more than 40% year over year in 2026. onsemi’s GaNEXUS power portfolio— targeting AI data center infrastructure and industrial power—recognizes the big opportunity in these areas.

STMicroelectronics (STM - Free Report) is similarly making grid and energy infrastructure a strategic priority, investing heavily in silicon carbide technologies while expanding relationships with solar, battery storage and power-conversion customers. As renewable energy deployment accelerates globally, STMicroelectronics is positioning its high-efficiency SiC portfolio to capture growing demand across industrial electrification and grid modernization.

NVTS' Price Performance, Valuation & EstimatesShares of Navitas have rallied 232% year to date compared with the industry’s growth of 66%.

Image Source: Zacks Investment Research

From a valuation standpoint, Navitas trades at a forward price-to-sales ratio of roughly 97X, significantly higher than the industry’s 10X.

Image Source: Zacks Investment Research

The Zacks Consensus Estimate for Navitas’ 2026 and 2027 bottom line is pegged at a loss of 17 cents/share and 15 cents/share, respectively. See how the loss estimates have been revised over the past 90 days.

Image Source: Zacks Investment Research

Navitas currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here