Navitas Semiconductor stock surges 20% on U.S. defense contract

Navitas Semiconductor's shares surged 20% after the U.S. government awarded the company a significant contract. The U.S. Army chose Navitas to develop next-generation 10 kV silicon carbide power semiconductors as part of the ALATTIS program. The Army selected Navitas from among top U.S. silicon carbide technology companies, citing its ultra-high-voltage SiC innovation and U.S.-anchored manufacturing capabilities.

The ALATTIS prototype project, sponsored by the Army Research Laboratory, will develop and validate a domestic manufacturing process for ultra-high-voltage SiC power semiconductor devices. Navitas' GeneSiC SiC power semiconductor portfolio ranges from 650 V to 6.5 kV, with the company pioneering several industry developments in ultra-high-voltage SiC, including 6.5 kV SiC thyristors, 10-15 kV PiN diodes, and 6.5 kV SiC MOSFETs.

Navitas' Chief Technology Officer, Siddarth Sundaresan, emphasized that the award marks a major milestone in advancing ultra-high-voltage SiC power devices and recognizes the company's 20 years of innovation in delivering reliable, high-power SiC technologies.