US Stock Market Move | Nanwei Semiconductor (NVTS.US) soared more than 12% in early trading as the company made progress in developing chips for NVIDIA Corporation.

On Tuesday, NVTS Semiconductor (NVTS.US) soared more than 12% in early trading, hitting a three-year high, with a monthly gain of 54%. On the news front, NVTS Semiconductor had previously announced progress in the development of advanced 800 volt direct current (800 VDC) gallium nitride (GaN) and silicon carbide (SiC) power devices to support NVIDIA Corporation's latest release of the 800 high voltage direct current (HVDC) architecture for the next generation artificial intelligence (AI) computing platform. According to the company's press release, this 800 volt direct current distribution system can achieve direct conversion from utility power to 800 volt direct current within data centers, eliminating multiple traditional conversion stages. This approach aims to maximize energy efficiency, reduce energy loss, and improve system reliability.