Why Navitas Semiconductor Stock Is Surging Today

Navitas Semiconductor (NASDAQ: NVTS) stock is seeing big gains in Monday's trading. The chip specialist's share price was up 11.3% as of 2:15 p.m. ET. Meanwhile, the S&P 500 index was up 0.5%, and the Nasdaq Composite index was up 1%.The broader market is rallying today, and the semiconductor industry is seeing particularly strong gains thanks to news that bodes well for Nvidia and other players in the artificial intelligence (AI) space. In addition to bullish industry momentum, Navitas stock is also getting a boost thanks to excitement surrounding the company's participation in this year's CES conference.Before the market opened this morning, Foxconn published its fourth-quarter financial results and delivered some bullish news for AI investors. The tech manufacturing company reported record Q4 revenue, and strong demand for artificial intelligence server products was a major performance catalyst. Nvidia is a key Foxconn customer and is seeing share price gains today in conjunction with indications that the demand backdrop in the AI hardware infrastructure market continues to be very favorable. Other AI players and chip stocks are also benefiting from the news, and Navitas is among the companies that are seeing valuation tailwinds today. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool