Key Highlights

● The U.S. Army selected Navitas under its ALATTIS program to develop high-voltage silicon-carbide devices rated at 10 kilovolts.

● An early jump before the opening bell faded, leaving the stock up modestly near $11.96 on September 29, 2026.

● Financial terms and the timeline of the Army program were not detailed in the reports, so its size is unclear.

● Navitas designs gallium nitride and silicon-carbide chips for fast chargers, EVs, solar and AI data-center power supplies.

Navitas Semiconductor Corporation (NASDAQ:NVTS) popped and then pared gains on Tuesday, September 29, 2026, after the company was selected by the U.S. Army to develop next-generation 10-kilovolt silicon-carbide power semiconductors. Early headlines showed a big jump before the opening bell, but by later in the day the stock had given back most of that advance and was up only modestly, at about $11.96.

The Army Selection

The Army picked Navitas under its ALATTIS program to develop high-voltage silicon-carbide devices rated at 10 kilovolts. Silicon carbide can handle much higher voltages, temperatures and switching speeds than traditional silicon, making it valuable for power conversion in demanding settings such as military vehicles, energy systems and electrical grids. Devices rated at 10 kilovolts sit at the high end of the voltage range, where fewer suppliers operate. A defense selection can validate a company's technology and open the door to further government work, and it adds a new type of customer and a potential source of development funding.

Why the Gains Faded

Early spikes on news are common for small, heavily traded stocks, and they often fade as traders take profits or reassess the size of the opportunity. A program selection to develop technology is an early step, and the financial terms and timeline were not detailed in the reports.

What Navitas Does

Navitas designs power semiconductors based on gallium nitride and silicon carbide, two so-called wide-bandgap materials. Its chips are used in fast chargers for phones and laptops, electric vehicles, solar systems and, increasingly, power supplies for AI data centers. Its silicon-carbide Business came through the Acquisition of GeneSiC.

Chips Were a Bright Spot

The VanEck Semiconductor ETF rose, and one market note said chip stocks are snapping back after a brutal session, but the recovery is anything but even.

Yields Weighed on the Market

Rising long-term Treasury yields were the main weight on the market, with the 30-year at its highest level since 2002 and the 10-year near a two-decade high. The Nasdaq-100 edged higher to 30,339.33 on the chip rally, even as the S&P 500 slipped 12.85 points to 7,670.84 and the Dow Jones Industrial Average fell 131.59 points to 51,349.92. The Nasdaq Composite ended nearly flat at 26,797.54. Consumer confidence dropped to 81.9 from 88.6, the lowest since 2014, according to the Conference Board.

Follow-Up Points

Investors will look for details on the scope and funding of the Army program, along with updates on the Data Center and electric-vehicle businesses. Micron's fiscal fourth-quarter results on Wednesday, September 30 are a key test of AI-related demand, and the same day brings GDP and August PCE. The Fed meets on October 27 and 28.