Changes in US stocks | Wolfspeed (WOLF.US) surged more than 36% and received US$750 million in funding from the US Department of Commerce

Zhitongcaijing · 10/15 14:17

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.”

Additionally, an investment fund consortium led by Apollo, The Baupost Group (The Baupost Group), Fidelity Management & Research Company (Fidelity Management & Research Company), and Capital Group (Capital Group) has agreed to provide an additional $750 million in new financing to Wolfspeed.