US Military Backs $1.5B Conditional Loan for Advanced Defense Chips
The 30-year financing would support silicon carbide output and gallium nitride upgrades for communications and electronic warfare systems.
9 Articles
9 Articles
Wolfspeed secures $1.5 billion conditional loan commitment from US defense department
Oct 7 (Reuters) - Chipmaker Wolfspeed said on Wednesday it has received a conditional loan commitment for up to $1.5 billion from the US Department of Defense to expand domestic production of silicon carbide materials and power devices, sending its s...
US Agrees to Loan For Chipmaker That Went Bankrupt Last Year
The US Defense Department pledged to issue a conditional loan to Wolfspeed Inc., the chipmaker that filed for bankruptcy last year, for as much as $1.5 billion to support the development of materials that the firm described as key to national security.
Wolfspeed gets a $1.5 billion Pentagon loan offer a year after bankruptcy
Wolfspeed's CEO Robert Feurle says the Pentagon financing would let the silicon carbide maker expand radiation-hardening and gallium nitride production for national security, with warrants for up to 7.5% of its equity attached.
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