Compound-Semi Substrates (GaN/SiC/GaAs)

Roshow Technology stated on an interactive platform on October 9 that its 8-inch silicon carbide substrate wafers have begun generating sales. The company said some samples have been sent to leading domestic customers for testing and verification, and that work on capacity building, yield improvement, and market expansion is continuing to advance.

Palantir Technologies shares rose 2.3% in premarket trading after analyst Daniel Ives, through his newly launched firm Yorkville Ives, initiated coverage with an Outperform rating and a $250 price target, while NXP Semiconductors fell 2.6% to around $229 after Citi downgraded the Dutch chipmaker to Neutral from Buy and slashed its price target to $260 from $370. Citi also downgraded Nova to Neutral from Buy, cutting its target to $415 from $550, and cut Universal Display to Sell from Neutral with a target of $71 from $85. Rocket Pharmaceuticals climbed 2.8% after Goldman Sachs upgraded it to Neutral from Sell and raised its price target to $4 from $3, citing long-term Phase 1 data for its Danon disease gene therapy RP-A501. Wolfspeed shares jumped 17% after the Department of War announced a conditional $1.5 billion 30-year loan to boost domestic production of advanced chips and specialized materials. Applied Digital rose 4% after reporting fiscal first-quarter 2027 adjusted revenue of $300.4 million, far above the $111.19 million consensus, with total revenue up 322% year over year to $341.9 million, while Levi Strauss fell 1.2% as its fiscal third-quarter earnings beat relied on about $80 million in tariff refunds.

Wolfspeed shares catapulted more than 25% in early post-market trading on Wednesday after the company received a $1.5B, 30-year conditional loan commitment from the U.S. Department of War. The long-term financing is intended to support domestic development and production of silicon carbide materials and wide bandgap power devices, with an additional focus on U.S. national security applications. Wolfspeed plans to use the funds to upgrade its gallium nitride epitaxy capabilities for next-generation communications infrastructure and electronic warfare systems, and to develop radiation-hardening capabilities for its current SiC and future GaN products, drawing on its manufacturing facilities in North Carolina, New York and Arkansas. Under the loan terms, Wolfspeed would be required to issue to the DoW VWAP-based warrants to purchase, in the aggregate, up to 7.5% of Wolfspeed's fully diluted equity, with the warrants issuable in proportion as and when financing tranches are funded. CEO Robert Feurle said the scale and 30-year tenor of the conditional commitment reflects the long-term importance of the technology and manufacturing capabilities Wolfspeed has built in the United States.

The US Army has selected Navitas Semiconductor Corporation for the ALATTIS program to develop next-generation 10 kV silicon carbide power semiconductors, a voltage class above the company's existing GeneSiC portfolio, which reaches 6.5 kV. The program will develop and validate a domestic manufacturing process for ultra-high-voltage devices, including 10 kV insulated-gate bipolar transistors and PiN diodes, for mission-critical defense and infrastructure applications. Navitas said its GeneSiC portfolio is engineered, manufactured, and supported through a US-anchored supply chain, an attribute that matters to a program seeking to establish domestic production of advanced power semiconductors. The award follows Navitas' July partnership with Magnachip Semiconductor to license its GeneSiC Gen 4 and Gen 5 technologies, covering 1,200 V, 2,300 V, 3,300 V, and higher-voltage applications, and a subsequent $5 million investment in Magnachip. In Q2, Navitas' revenue rose 22% sequentially to $10.5 million, with high-power markets growing more than 50% year over year, and the company expects Q3 revenue of $13 million to $14 million, a 28% sequential increase at the midpoint. ALATTIS remains a prototype development and validation program, so Navitas must still move the 10 kV technology into production; at the September 30 close, its roughly $3 billion market cap stood against $36.5 million in trailing-12-month revenue, about 83x trailing sales, and even on Wall Street's 2026 revenue forecast of about $47.7 million the stock trades at around 63x forward sales, versus about 2.0x for Wolfspeed, 4.6x for Onsemi, and 2.9x for STMicroelectronics.