Market News / Story
Wolfspeed rockets after receiving $1.5B from DoW to support domestic supply chain
Seeking Alpha ·
Seeking Alpha reports: Wolfspeed shares catapulted more than 25% during early post-market trading on Wednesday after receiving a $1.5B, 30-year conditional loan commitment from the U.S. Department of War. The long-term financing is intended to support the 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 financing to upgrade its gallium nitride epitaxy…