Company Overview - Navitas Semiconductor is positioned as a pure-play next-generation power semiconductor company, focusing on GaN and SiC technologies[8] - The company has shipped over 300 million GaN power ICs without silicon power MOSFETs[9] - Navitas has a strong IP portfolio with over 300 patents issued or pending related to GaN and SiC[9, 45] - Navitas' annual revenue has grown significantly, reaching $84 million in 2024[9] Technology and Market Disruption - GaN and SiC technologies are replacing silicon in next-generation power applications, offering up to 20x faster switching and up to 3x higher power density[12] - GaN-based systems can achieve up to 40% energy savings and up to 25% lower system cost compared to Si-based systems[12] - Navitas has enabled the GaN mobile charger market, achieving up to 3x faster charging in half the size and weight[14] AI Data Center Opportunity - AI is driving a dramatic increase in power demands, requiring a 100x increase in server rack power[18, 20] - The transition to 800V data centers is expected to increase the power semiconductor TAM to $2.6 billion per year by 2030, presenting a significant opportunity for GaN and SiC[32] - The adoption of 800V data centers is projected to grow from 0% in 2025 to 80% of total AI data centers by 2030[38] - The power semi TAM for 800V data centers is estimated to reach $2.564 billion in 2030[38] - GaN and SiC technologies can capture a significant percentage of the total $3 billion per year AI data center opportunity (48V + 800V)[42]