Wolfspeed Secures $1.5 Billion DOD Loan to Boost Semiconductor Production for National Security

Semiconductor manufacturer Wolfspeed has signed a $1.5 billion unconditional loan agreement with the Defense Department's Office of Strategic Capital. The funding is earmarked for upgrading gallium nitride epitaxy capabilities for new communications infrastructure and electronic warfare systems, as well as developing ionizing radiation-resistant silicon carbide and gallium nitride products. This investment aims to increase production volume at Wolfspeed's Mohawk Valley Fab in New York and its Research Triangle Park location in North Carolina.