US Department of War commits $1.5 billion loan to Wolfspeed
The US Department of War has issued a conditional 30-year, $1.5 billion loan commitment to silicon carbide and gallium nitride maker Wolfspeed. The company will use the funds to upgrade its gallium nitride epitaxy capacity and develop radiation-hardened chips. Under the deal, Wolfspeed will issue warrants for up to 7.5% of its equity to the Department.
