Navitas Semiconductor closes Claros acquisition for grid-to-xPU power
Navitas Semiconductor (Nasdaq: NVTS) has completed its acquisition of Claros, Inc., a developer of integrated voltage regulator (IVR) technology aimed at AI data centres. The deal, which had been previously announced, closes what the company describes as its full grid-to-xPU power delivery portfolio, combining Navitas' existing gallium nitride (GaN) and silicon carbide (SiC) technologies with Claros' last-stage power conversion capabilities.
Claros' core product line centres on its pIVR (Packaged Integrated Voltage Regulator) and eIVR (Embedded Integrated Voltage Regulator) variants, both built on a shared technology stack that integrates power transistors, digital control, inductors and capacitors into a single module. The architecture supports Vertical Power Delivery (VPD) and Embedded Power Delivery (EPD), moving power conversion physically closer to the processor to reduce impedance losses and improve transient response at the high current levels that next-generation AI accelerators demand.
The strategic rationale
Navitas frames the acquisition as central to what it calls its "Navitas 2.0" transformation, positioning the combined company to address power conversion at every stage of the AI infrastructure chain: from grid-connected rectifiers and DC bus conversion using GaN and SiC, through to the milimetre-scale last step that delivers current directly beneath or alongside the xPU die.
Chief executive Chris Allexandre said: "With power now the bottleneck for AI, increases in power delivery and efficiency are the key enablers of more compute output. The future of AI depends on delivering thousands of amps to increasingly power-hungry processors with unprecedented speed and precision."
The company projects that the Claros acquisition will more than double its identified 2030 serviceable addressable market (SAM) to over $8 billion. That figure comprises at least $3.5 billion attributed to the VPD and IVR market, layered on top of $3.5 billion from GaN and high-voltage SiC and approximately $1 billion from a separate JFET technology line. These are internal management estimates and carry the standard forward-looking caveats filed with the SEC.
Market context and competitive landscape
Power delivery to AI accelerators has emerged as one of the more acute bottlenecks in next-generation data centre design. As GPU and custom AI chip (xPU) power envelopes push beyond 1,000 watts per device and rack-level deployments approach megawatt scale, conventional voltage regulator module (VRM) architectures struggle to deliver current efficiently across the distance from the motherboard power plane to the die.
Several well-capitalised players are pursuing similar vertical and embedded power delivery architectures, including specialist power management IC companies and internal programmes at major chip vendors. Navitas competes against established power semiconductor groups such as Infineon, ON Semiconductor and STMicroelectronics across parts of its GaN and SiC portfolio, while the IVR segment sees activity from a number of startups and university spin-outs targeting hyperscaler and ODM customers.
The 800V DC bus architecture that Navitas promotes for data centre distribution is gaining traction as a way to reduce copper losses at high power levels, and several rack standards bodies are examining higher-voltage DC distribution as part of next-generation data centre specifications. Navitas has over 450 patents issued or pending across its combined portfolio, which provides some barrier to fast-follower competition, though patent strength in power semiconductors is typically tested over years of product cycles.
Navitas plans to present the combined technology portfolio at a webinar titled "Breaking the AI Infrastructure Power Wall: From Grid-to-xPU" on 20 October 2026, with CEO Allexandre and Claros co-founder Dan Kultran among the speakers. No financial terms for the Claros acquisition were disclosed in the announcement.