Daniel Romero
Technology Equity Analyst, Semiconductors/Data Centers/Physical AI
Navitas, Infineon, Texas Instruments and STMicroelectronics each have a strong position in GaN and SiC power chips. Navitas is one of only three vendors with integrated-driver GaN and a credible SiC part, so it beats Texas Instruments when customers want dual-source GaN plus SiC. Texas Instruments has top-tier integrated-drive GaN but no SiC. Infineon has competitive GaN and very strong SiC. STMicroelectronics has a good SiC part, with GaN in development. x.comÂ
STMicroelectronics is a hidden common thread across semiconductors, and the market is waking up to it in 2026. It turns up in silicon carbide and GaN power devices, its STM32 is effectively the MCU standard, and it leads MEMS sensor share. Its chips sit in SpaceX Starlink satellites, AWS data center infrastructure and a humanoid robot shown at NVIDIA's headquarters. A "European semiconductor" label long kept interest lukewarm, but that perception is breaking down fast. x.comÂ
Infineon is the best overall stock in power semiconductors, with the best silicon carbide and the second-best gallium nitride offering. @zephyr_z9 says Infineon is outclassing everyone in the space. x.comÂ
Navitas is a one-customer concentration story facing heavy competition from tier-one suppliers. Its GaN portfolio winning Nvidia adoption played out, but STMicroelectronics and Infineon also supply Nvidia and are strong in GaN and SiC. GaN output may quadruple by 2030, yet SiC prices were hammered by Chinese capacity, unresolved, so revenue and margins could diverge sharply. Power and thermal efficiency are better played across these names than through Navitas alone. x.comÂ
Navitas Semiconductor's opportunity now spans the entire AI power stack, from the grid to the chip, not just GaN. As StockSavvyShay noted, closing Claros adds integrated voltage regulators next to AI processors and more than doubles Navitas's 2030 AI power opportunity to $8B, covering 10 kV SiC near the grid, 800V rack conversion, GaN in the rack and power at the chip. x.comÂ
Navitas is the highest-beta standalone pure play on gallium nitride for the shift to 800V DC data centers. It pivoted from consumer GaN chargers, where it was losing share to cheap Chinese rivals, to higher-margin AI data-center solid-state transformers, where it is seen as the default GaN supplier, even ahead of Infineon. An acquisition two years ago added credible silicon carbide capability. Execution risk is high for a small company making such a concentrated bet. x.comÂ
Navitas's place in NVIDIA's 800 VDC ecosystem carries little pricing power because the silicon tier is crowded. NVIDIA names fourteen silicon suppliers, Navitas among them, and rent comes from scarcity; SiC and GaN also split the socket by stage. Per SemiAnalysis, rollout is phased, and the first stage is a retrofit into existing wiring with the smallest content per site. Unlike optical, no 800 VDC tier has disclosed dollars yet; a first order with a figure and date would change the picture. … Show more
Infineon is a better pick than STMicroelectronics because data-center power chip demand is set to inflect while its smartphone exposure is much lower. About a fifth of STM's revenue still comes from smartphones, which are vulnerable to soaring memory prices. Rising rack power densities and 800V rollouts should lift demand, and Infineon has very competitive SiC and GaN products. Data-center power chips could top a quarter of Infineon's sales, more counting energy storage. x.com x.comÂ
Navitas being selected by the US Army to develop next-generation 10kV silicon carbide power semiconductors could open new markets. As the military builds domestic manufacturing and validation capacity, the project, if it progresses, would strengthen Navitas's credentials in high-voltage SiC and defense and help open defense, grid and data-center high-voltage power markets. The stock still does not look expensive and is rebounding off a major weekly trendline, which looks very bullish. x.comÂ
Pure or heavy silicon carbide players such as STMicroelectronics, onsemi and Wolfspeed look higher-risk and currently unappealing in the AI data-center shift to 800V DC power and solid-state transformers. The better risk/reward in that transition sits with power-electronics names positioned for it, such as Enphase and SolarEdge, whose bidirectional power-conversion know-how suits transformers that step 13 kV utility power down to 800V DC and must handle sudden GPU load swings. x.comÂ
Silicon carbide's years of oversupply are turning, as China's Yangjie Tech says its capacity is fully booked, per SCMP, a positive sign for Infineon, Wolfspeed and STMicroelectronics. As more makers fail to meet rising demand, orders should also flow to Wolfspeed, whose heavily underutilized New York SiC fab would gain tremendous operating leverage. x.comÂ
