A circuit for inverting a DC voltage to an AC voltage having a predetermined waveform, includes first and second level shifting stages for providing selectively at their respective output terminals a voltage having the level of the DC voltage, or about twice the level of the DC voltage. A first pair of transistorized switches are included for concurrently and selectively connecting the output terminal of one of the level shifters to one end of a load, and ground to the other end, respectively, for driving current through the load in a particular direction and obtaining a desired level and polarity of voltage thereacross, or the switches are operated to ground both ends of the load. In generating a stepwise approximation of a symmetrical AC waveform, such as a sinewave, one level shifting stage is charging from the DC voltage supply while the other level shifting stage is discharging into the load, during each half-cycle of the AC voltage. A second pair of transistorized (or mechanical) switches are added for selectively connecting each one of the first pair of transistorized switches in parallel with a transistorized switch of each one of the first and second level shifting stages, respectively, for operating the waveform synthesizer at half-rated voltage, and twice-rated current. Also included is a control signal generator for operating the switches and level shifting stages in a manner providing in combination concurrent dynamic level shifting and pulse width modulation in synthesizing a desired AC waveform.