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Wolfspeed Secures $1.5 Billion Funding to Boost Silicon Carbide Technology Development
Contract Type
partnership
DurhamDescription
Today, Wolfspeed announced a significant partnership with the U.S. Department of Commerce, securing a proposed funding of $750 million under the CHIPS and Science Act, and an additional $750 million from a consortium of investment funds led by Apollo. These investments will support Wolfspeed’s long-term growth plans and bolster domestic production of silicon carbide, with a total access to up to $2.5 billion of expected capital under the CHIPS and Science Act. Wolfspeed's CEO, Gregg Lowe, emphasized the significance of this support to the company's growth strategy and its importance to broader U.S