Navitas plans to acquire Claros for $232.8 million to extend its GaN and SiC strategy, targeting the final power-delivery stage from 800V infrastructure. This acquisition underscores the growing importance of wide-bandgap semiconductors in optimizing power efficiency for next-generation AI data centers.
Overview of the Acquisition
Navitas Semiconductor, a fabless power semiconductor company specializing in wide-bandgap (WBG) solutions, has entered into an agreement to acquire Claros for up to $232.8 million. Announced on September 15, 2026, this strategic move is designed to extend Navitas’s gallium nitride (GaN) and silicon carbide (SiC) portfolio by targeting the final power-delivery stage in next-generation AI infrastructure. Claros, an integrated voltage regulator (IVR) and vertical power delivery (VPD) solutions provider, will enable Navitas to complete a comprehensive power chain from the grid directly down to the AI processor, or xPU.
Technical Details of Claros VPD Architecture
At the core of this acquisition is Claros’s proprietary VPD array architecture, which addresses a fundamental physics problem in modern computing: minimizing I2R losses and inductance to survive fast current transients without excessive voltage droop (V=L·di/dt). Claros’s IVR chip delivers 40 A at a 3:1 conversion ratio. It fully integrates the digital multiphase controller, driver, FET, inductor, and capacitor into a highly compact 3.3 x 3.6 mm footprint, requiring no external passives outside the package. The digital multiphase controller allows multiple chips to be connected into an array or mesh. These chips communicate seamlessly to deliver the full load requirements, which can reach several thousand amps, by positioning power conversion directly beneath the AI processor on the PCB or integrating it into the xPU package.
Market Context and the VPD Landscape
The Navitas-Claros deal follows a wave of major consolidation in the power semiconductor sector, highlighting the critical importance of native VPD solutions. Earlier in 2026, GlobalFoundries acquired Photeon Technologies, and Analog Devices completed its $1.5 billion acquisition of Empower Semiconductor. The landscape also features established power companies offering native VPD, such as Infineon’s quad-phase modules, Monolithic Power Systems’ Z-axis Power Delivery (ZPD), Renesas’s two-phase power towers with Flex VPD modules, and Vicor’s 48-V factorized power architecture. Furthermore, a robust ecosystem of smaller IVR and VPD startups—including Powerlattice, Epic Microsystems, Ferric, Endura Technologies, AmberSemi, and Lotus Microsystems—continues to innovate. All these entities are fundamentally solving the same challenge: delivering power as close to the xPU as possible.
Implications for AI Data Centers
For AI data centers, this acquisition directly addresses the industry's escalating power wall. According to Navitas CEO Chris Allexandre, there is simply not enough board space to deliver the massive amperage required by advanced AI chips, forcing multiple xPU and processor manufacturers to underclock their own hardware. Power has become the limiting factor for achieving full-performance GPUs and xPUs. Navitas envisions the power chain in three simple stages: 35 kV grid to 800 V, 800 V to 6 V, and finally down to less than 1 V. While Navitas already handles the high-voltage AC/DC stage with SiC and the medium-voltage DC-DC conversion with GaN, the integration of Claros secures the critical third stage. Notably, Claros represents a newer generation of IVR companies that started with AI infrastructure in mind, unlike older firms that pivoted from consumer electronics.
Strategic and Financial Impact on Navitas
The financial and strategic rationale for the $232.8 million acquisition is substantial. Allexandre noted that the deal effectively doubles Navitas’s serviceable available market (SAM). Previously valued at approximately $4 billion based on GaN and SiC alone, the addition of Claros and SiC JFET technologies expands the SAM to $8 billion. Furthermore, the acquisition is expected to improve Navitas's profitability. The company currently operates at around a 40% gross margin, having recently pivoted away from mobile and low-end consumer markets. Because dense IC technologies like those developed by Claros typically command higher margins, the blended portfolio is projected to support continued margin expansion. Claros Co-founder and CEO Dan Kultran added that an existing commercial relationship with a lead customer will drive a revenue ramp starting in 2028.
Future Outlook for Wide-Bandgap and VPD Integration
Looking ahead, the convergence of wide-bandgap semiconductors and advanced VPD architectures will define the next era of power electronics. As AI workloads continue to scale, the physical limitations of traditional power delivery will necessitate highly integrated, on-package, or sub-package power solutions. Navitas’s comprehensive grid-to-xPU strategy positions it uniquely to capture this expanding market. By unifying high-voltage SiC infrastructure with ultra-dense, low-voltage Claros IVR arrays, Navitas is building a formidable moat in the AI data center power ecosystem. The success of this integration will likely set a new industry standard for how power is managed, distributed, and optimized at the very edge of computational hardware.