Wolfspeed, a leading provider of silicon carbide (SiC) technology, has announced two significant funding initiatives aimed at bolstering its leadership in the global semiconductor industry. The company is set to receive $750 million in proposed funding from the U.S. CHIPS Act, which is designed to support the U.S. semiconductor sector’s growth and innovation. Additionally, Wolfspeed will secure another $750 million in investment from a group led by Apollo Global Management. These investments will help Wolfspeed accelerate the development and production of next-generation SiC materials, which are critical for electric vehicles, renewable energy systems, and advanced power electronics. The funding underscores Wolfspeed’s commitment to expanding its capabilities in the rapidly growing market for wide-bandgap semiconductors and positioning itself at the forefront of clean energy and electrification technologies.

For more details, visit Wolfspeed.