$Navitas Semiconductor(NVTS.US) fell over four percentage points, which is quite noticeable. This batch of power semiconductors as a whole hasn't kept up with the chip sector's big rally—$INNOSCIENCE(02577.HK) rose slightly, while $Wolfspeed(WOLF.US), $Vishay Intertech(VSH.US), and $SIVERS SEMICONDUCTORS AB(SIVEF.US) barely moved.

Both are in the semiconductor sector. While memory and computing power were soaring that day, power devices like GaN and SiC fell behind. Is it because the recovery in demand from EVs and industrial automation is too slow, or is it because capital this round only recognizes the AI computing power theme? It seems more like the latter. The production capacity and downstream demand for power devices are there; what's missing is the catalyst of a new narrative.