Electric Vehicle and AI Power Semiconductor Stocks Gain $700 Billion in Market Cap in One Day

Allegro MicroSystems (Nasdaq: ALGM) closed at $43.86 on the Nasdaq on the 22nd, up 6.25%. Its market capitalization climbed by about $540 million in a single day to roughly $8.1 billion (approximately KRW 11 trillion), with trading volume reaching 1,402,607 shares.

In its recently released third quarter of fiscal 2026, the company reported revenue of $229.21 million, a 29% year-over-year increase, with both automotive and industrial segments delivering double-digit growth. In January, Allegro introduced new high-voltage silicon carbide gate drivers and ultra-low-loss current sensors for electric vehicles, AI data centers, and clean-energy applications—strategically targeting e-mobility and data center power requirements.

Headquartered in Manchester, New Hampshire, Allegro MicroSystems is a fabless semiconductor firm specializing in power and sensing solutions, including magnetic sensor ICs and motor-drive power ICs for automotive and industrial markets. Founded in 1990 as a subsidiary of Japan’s Sanken Electric, the company has gained recognition for its growth potential in high-efficiency motion control and green-energy applications such as EV drive motors, battery management, and factory automation.