Navitas Semiconductor agreed on 24 August to acquire Claros for up to $232.8 million, roughly $216 million paid at closing in cash and stock, with the remainder contingent on milestones over the following two years. Claros makes vertical power delivery and integrated voltage regulator technology that places power conversion directly beneath or inside an AI chip’s package, cutting the distance power travels from inches to millimetres. Both boards have approved the deal, which Navitas expects to close before year end, subject to regulatory approval.
Navitas frames the deal as completing a grid to xPU power chain, pairing Claros’s near chip delivery with its existing gallium nitride and silicon carbide platforms. The company says the combination addresses what it calls AI’s power wall, the point at which an accelerator’s performance is capped not by compute but by how much power can physically reach the chip. Navitas projects the deal more than doubles its addressable market through 2030, to over $8 billion, while preserving profitability.
The rationale tracks a broader shift in AI infrastructure spending, where chipmakers and suppliers are buying up the unglamorous layers, power delivery, cooling, packaging, that determine whether a data centre can run the accelerators it has already bought. A chip that cannot be fed power fast enough is a wasted purchase order, and Navitas is betting hyperscalers will pay a premium for a vendor that owns more of that chain.
What is not yet public is how much of Claros’s technology is proven at production volume rather than in the lab. Navitas has not named a hyperscaler customer, and the $8 billion figure is its own 2030 projection, not a booked order. The deal is a bet on where AI power delivery is heading, priced well ahead of proof it has arrived.
