According to Zhito Finance APP, on Friday, Navitas Semiconductor (NVTS.US) stock price surged sharply, rising 16.58%, closing at $2.355. The company's revenue growth has been recognized by Deloitte's Technology Fast 500 for three consecutive years. Navitas's growth is driven by strong demand for its highly efficient, wide bandgap gallium nitride (GaN) and silicon carbide (SiC) power components, covering the continually growing global market and customer base.

CEO and co-founder Gene Sheridan stated: "Recently launched products such as GaNsafe, Gen-3's 'Fast' SiC, and the new range for 48V developed in collaboration with Infineon establish a solid foundation for applications ranging from 20W to 20MW, with market opportunities exceeding $22 billion each year."