Navitas Semiconductor jumps 21.5% after US Army-backed semiconductor program

25 in extended trading after the chip company won a US Army-backed program to develop 10 kV silicon carbide power semiconductors. The project is aimed at building and testing a new US-based manufacturing process for ultra-high-voltage SiC power devices, and at speeding the adoption of 10 kV SiC devices in military and infrastructure applications. Silicon carbide, or SiC, is a semiconductor material that helps power devices handle higher voltages, temperatures and power levels more efficiently than traditional silicon chips. As of the last close, the stock was up 62% year to date.