Navitas Semiconductor Acquires Claros to Expand AI Power Business, Targeting $8 Billion Market

Navitas Semiconductor shares rose in premarket trading on Tuesday after the company announced it had reached a definitive agreement to acquire Claros for approximately $232.8 million to expand its AI data center power product portfolio.

Navitas Expands AI Power Product Portfolio

The acquisition will add Claros' vertical power delivery and integrated voltage regulator technologies to Navitas' gallium nitride and high-voltage silicon carbide product portfolio.

Navitas said the combination of the two companies will extend its AI infrastructure product offering across the entire power chain from grid to processor.

The company expects the deal to more than double its identified 2030 total addressable market to over $8 billion.

Claros' VPD and IVR markets will add at least $3.5 billion to that opportunity. Founded in 2024, Claros develops power management hardware and software for AI infrastructure.

Deal Includes Cash and Stock

Navitas will pay approximately $216 million at closing, through a combination of cash and Class A common stock.

The company will pay the remaining consideration in stock when Claros achieves specific business milestones within two years after closing.

Certain continuing Claros employees may receive an additional approximately $28.9 million in performance-based stock compensation tied to the same milestones.

The boards of both companies unanimously approved the transaction. Navitas expects the deal to close before the end of the year, subject to customary closing conditions and regulatory approvals.

As of June 30, 2026, Navitas held $557.4 million in cash and cash equivalents.

Growth Outlook Unchanged

Navitas said its short- to medium-term financial model under the Navitas 2.0 transformation remains unchanged.

The company expects Claros' technology to provide additional growth accelerators starting in 2028 or 2029.

Navitas said the acquisition could support revenue acceleration and margin expansion while keeping its profitability timeline unchanged.

"The future of AI depends on delivering thousands of amps to increasingly power-hungry processors with unprecedented speed and precision," said Chris Allexandre, Navitas' President and CEO.

NVTS Stock Performance: Based on Tuesday data, Navitas Semiconductor shares rose 6.46% in premarket trading to $13.02.