QuickLogic shares surge 10.10% intraday after expanded DoD FPGA contract with $88M ceiling and test chip progress.

QuickLogic Corporation surged 10.10% intraday following the announcement of an expanded $88 million U.S. Department of Defense contract for radiation-hardened FPGA technology. The company completed the design and tape-out of a test chip fabricated by GlobalFoundries on its 12LP process, enhancing its strategic position in defense and space systems. The expanded scope, sponsored by the DoD’s Trusted and Assured Microelectronics Program, underscores demand for QuickLogic’s radiation-hardened solutions in high-reliability applications. This development, coupled with technical progress, drove immediate investor optimism, overshadowing prior earnings misses and a recent downgrade.