Monolithic Power Systems (MPWR) delivered record Q1 results, with revenue up 26% YoY and strong Enterprise Data growth driven by AI demand. MPWR's monolithic power-density advantage and structural technology moat position it as a leader in high-power AI and data center applications. Management raised full-year Enterprise Data growth guidance to 85% YoY, citing robust backlog and no supply constraints, but sees valuation as stretched.








