Navitas Semiconductor is trading at $8.64, down 6.09%, as semiconductor-sector weakness follows Intel’s outlook and broader concerns about AI spending.
- Reuters reported the selloff spread across chipmakers; semiconductor stocks had already weakened after Alphabet’s results intensified questions about returns on AI investment.
- No fresh company-specific catalyst for the pre-market move was identified. The recent NVIDIA collaboration announcement came earlier in October, not as a new October 30 catalyst.