Other Parts Discussed in Thread: TXG8041
FAQ: Logic and Voltage Translation > Ground-Level Translators >> Current FAQ
A negative PWM signal can be generated using a ground-level translator if the system includes a negative supply rail. To prevent device damage, the voltage difference between VCC and GND must remain within the recommended operating conditions.
In the image below, VCC and GND for both the A-port and B-port fall within allowable limits. As a result, the output toggles between VCCB and GNDB, which in this case corresponds to 0V and -4V.

Using the same test conditions on the TXG8041, the output waveform (pink) toggles between GND and -4V.
