Vicor raised its Q3 sequential revenue growth outlook from around 10% to more than 20%, primarily driven by royalty revenue from non-exclusive licensing of its Vertical Power Delivery patents. The company said that four major OEMs and hyperscalers have already secured licenses. $VICR shares jumped about 10% in premarket trading Tuesday, bringing the stock’s year-to-date gain to more than 300%. The important shift here is that Vicor’s AI story is expanding beyond simply selling power modules. It is now adding a more capital-efficient layer through intellectual property licensing. That matters because royalty revenue can scale without requiring the same level of manufacturing capacity, inventory, or working capital as physical product sales. But there is one important distinction. This q
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