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Wolfspeed announces $750m in proposed funding from US CHIPS Act plus $750m from investment group
What happened
Wolfspeed has secured a non-binding PMT for up to $750M in direct CHIPS Act funding and an additional $750M in private financing. This capital is intended to support the expansion of its silicon carbide materials and device manufacturing capacity in the US. Watch: The funding strengthens Wolfspeed's long-term supply position but does not indicate an immediate change in SiC market supply or pricing.
Impact and signal
Medium impactImpact score: 45/100
Affected components and suppliers
SiC WafersSiC Power Semiconductors
Wolfspeed Inc
CHIPS Actcapacity expansionfunding
Source and time
Source: Semiconductor Today · 10/15/2024 · View original source
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