QuickLogic shares surge 11.3% after-hours after expanding DoD radiation-hardened FPGA contract to $88M with GlobalFoundries.

QuickLogic surged 11.30% in after-hours trading following the announcement of an expanded $88 million U.S. Department of Defense contract for Strategic Radiation Hardened FPGA technology. The agreement, now including GlobalFoundries’ 12LP fabrication process, supports defense and space system requirements and reflects the company’s progress in developing a test chip. This expansion, sponsored by the DoD’s Trusted and Assured Microelectronics Program, underscores long-term revenue potential for the small-cap semiconductor firm, which has a market capitalization of approximately $100 million. The news aligns with investor optimism about government contract growth and technological advancements in radiation-hardened FPGA solutions.