Wolfspeed Announces $750M in Proposed Funding from U.S. CHIPS Act and Additional $750M From Investment Group Led By Apollo, Galvanizing Global Leadership in Delivering Next-Generation Silicon Carbide Technology
Portfolio Pulse from Benzinga Newsdesk
Wolfspeed has announced a proposed $750 million funding from the U.S. CHIPS Act and an additional $750 million from an investment group led by Apollo. This funding aims to strengthen Wolfspeed's position in delivering next-generation silicon carbide technology.
October 15, 2024 | 9:07 am
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Wolfspeed is set to receive $1.5 billion in funding, with $750 million from the U.S. CHIPS Act and $750 million from an Apollo-led investment group. This funding will enhance its leadership in silicon carbide technology.
The significant funding from both the U.S. CHIPS Act and an investment group led by Apollo will likely enhance Wolfspeed's market position and technological capabilities, potentially leading to increased revenues and market share.
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