$Navitas Semiconductor Corp(NVTS)$ Magnachip has licensed the GeneSiC Gen4/Gen5 TAP tech, covering 1.2-3.3 kV and up. Navitas is expected to buy 1,461,988 Magnachip shares at $3.42, which comes to $5.0M, with closing anticipated around Sept 24, 2026.
The margin story is more about mix shift. Non-GAAP gross margin was 39.5% in Q2, and Q3 guidance points to roughly 39.7%, so about 100 bps higher. GAAP gross margin is only 0.4%. The 800V and higher content angle is the management thesis, though it is not a reported dollar-per-megawatt figure from filings. The $25K-$35K per MW range is from a third party, not an official management statement.
Between demand, the $NVIDIA(NVDA)$ 800V angle, and the technicals, the pieces seem to line up. That is what makes Navitas look like a picks-and-shovels story tied to $NVIDIA(NVDA)$ 's power needs.
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