Fri, March 28, 2025
Thu, March 27, 2025
[ Last Thursday ] - SunStar
CIT, Unilab host AIa Summit
Wed, March 26, 2025
Tue, March 25, 2025
Mon, March 24, 2025
Sun, March 23, 2025
Sat, March 22, 2025
Fri, March 21, 2025
Thu, March 20, 2025
Wed, March 19, 2025

Wolfspeed Stock Plunges on CHIPS Act Funding Concerns


Published on 2025-03-28 22:42:27 - Investopedia
  Print publication without navigation

  • Wolfspeed shares lost nearly half their value Friday as comments by the semiconductor firm's outgoing interim Executive Chairman brought concerns about whether it will secure federal funding for its expansion efforts.

Wolfspeed, a company specializing in silicon carbide chips, experienced a significant drop in its stock price, falling over 18% after it was reported that the company might not receive the expected funding from the CHIPS and Science Act. This act aims to boost domestic semiconductor production in the U.S. The concerns arose after Wolfspeed's CEO, Gregg Lowe, mentioned in an interview that the company had not yet received any funds from the $52 billion allocated for semiconductor manufacturing. This uncertainty about government support, combined with the company's high capital expenditure needs for expanding its production capacity, led investors to sell off shares, reflecting broader market concerns about the sustainability and funding of U.S. semiconductor initiatives.

Read the Full Investopedia Article at:
[ https://www.msn.com/en-us/money/markets/wolfspeed-stock-plunges-on-chips-act-funding-concerns/ar-AA1BR00y ]
Similar Science and Technology Articles