Why is Navitas Semiconductor stock surging today?
Navitas Semiconductor's stock experienced a significant surge of +14.4% in after-hours trading following the U.S. Army's award of a contract to develop advanced 10 kilovolt silicon carbide power semiconductor technology. The contract, known as ALATTIS, is part of the Army's effort to advance high-power electronics for defense and infrastructure applications.
Navitas was selected from a pool of leading U.S. silicon carbide technology companies due to its expertise in ultra-high-voltage SiC innovation, its ability to deliver defense-grade performance and reliability, and its resilient U.S.-anchored manufacturing ecosystem. The company's GeneSiC SiC power semiconductor portfolio, spanning voltage ratings from 650 V to 6.5 kV, is manufactured in a U.S.-based supply chain, with Navitas having developed ultra-high-voltage SiC products since 2010.
The contract win is significant as it adds to a series of strategic moves reshaping Navitas' business profile.
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