U.S. Army awards Navitas Semiconductor high‑voltage SiC contract under ALATTIS program
Navitas Semiconductor (NVTS) received a U.S. Army contract to develop 10 kV silicon‑carbide power semiconductors under the ALATTIS program. The award was announced on October 2, 2026 and was accompanied by a $5 million equity investment in Magnachip for 1.5 million shares at $3.42 each. The news lifted NVTS shares 2.93% intraday and sparked a roughly 12% pre‑market rally.
Why it matters
The contract validates Navitas’ ultra‑high‑voltage SiC technology and provides a government‑backed growth catalyst, which analysts note could drive further price appreciation. The Magnachip stake deepens the company’s supply‑chain position in high‑voltage markets, supporting its strategic roadmap.
Key facts
- 1NVTS stock rose 2.93% after the announcement. timothysykes.com
- 2The stock traded near $12.48 after the news. timothysykes.com
- 3NVTS reported $45.9M in revenue over the trailing period. timothysykes.com
- 4The company holds more than $557M in cash. timothysykes.com
- 5Navitas invested $5M in Magnachip, buying about 1.5M shares at $3.42 each. stockstotrade.com
- 6The U.S. Army selected Navitas for the ALATTIS program to develop 10 kV SiC power semiconductors. stockstotrade.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.