Navitas Semiconductor Corp (NASDAQ:NVTS) shares traded higher by more than 2.35% on Monday as strength in growth stocks and semiconductors supported risk appetite. The Nasdaq rose 2.52%, while the S&P 500 gained 1.53%.

Monday's move appeared more tied to the broader bid for tech stocks than to a new company-specific announcement. NVTS has been a momentum-heavy name, with a 12-month gain of 230%, making it more sensitive to Nasdaq strength.

The stock is also holding above short-term trend gauges, helping explain why investors continue buying dips during stronger market sessions.

Earlier June AI Infrastructure Update

In the first week of June, Navitas announced a collaboration with NVIDIA Corp (NASDAQ:NVDA) within the NVIDIA MGX ecosystem to support next-generation 800 VDC AI data-center power infrastructure.

Navitas said the collaboration positions its GaNFast technology for rising AI GPU power demands. The company highlighted an 800 V-to-6 V power distribution board design using 16 GaNFast FETs, targeting 97.5% peak efficiency at a 1 MHz switching frequency and power ...