MOS characteristics of ultrathin gate oxides prepared by oxidizing Si in N2O have been studied. Compared to control oxides grown in O2, N2O oxides exhibit significantly improved resistance to charge trapping and interface state generation under hot-carrier stressing. In addition, both charge to breakdown and time to breakdown are improved considerably. MOSFET's with N2O gate dielectrics exhibit enhanced current drivability and improved resistance to g(m) degradation during channel hot-electron stressing.