Navitas Semiconductor Corp's stock experienced a significant decline intraday, plummeting 8.42%.

The sharp drop is attributed to continued selling pressure triggered by concerns over AI-related semiconductor demand. This sentiment was sparked by OpenAI's revenue targets falling short of expectations, leading to widespread worries about the outlook for the AI chip market. The current session's decline represents a further extension of bearish momentum, following a previous substantial drop on the same catalyst.

Within the broader semiconductor sector, performance was mixed, reflecting investor selectivity in repricing AI demand expectations. The elevated implied volatility for Navitas indicates the market remains gripped by uncertainty and persistent risk aversion toward companies exposed to the AI supply chain.