The Zhitong Finance App learned that on Tuesday, Wolfspeed (WOLF.US) opened and surged 36%. As of press release, it had risen 25.52% to $14.28. According to the news, Wolfspeed announced on October 15, local time, that it has signed a non-binding Preliminary Terms Memorandum (PMT) with the US Department of Commerce, and that the US Department of Commerce plans to directly provide up to 750 million US dollars in funding under the “Chip and Science Act.”

The Zhitong Finance App learned that on Tuesday, Wolfspeed (WOLF.US) opened and surged 36%. As of press release, it had risen 25.52% to $14.28. According to the news, Wolfspeed announced on October 15, local time, that it has signed a non-binding Preliminary Terms Memorandum (PMT) with the US Department of Commerce, and that the US Department of Commerce plans to directly provide up to 750 million US dollars in funding under the “Chip and Science Act.”