Wolfspeed Stock Soars as Semiconductor Maker Gets CHIPS Act, Apollo Financing

Key Takeaways Wolfspeed said it could get up to $2.5 billion from government and investor money infusion. The semiconductor maker received a proposed$750 million from the CHIPS Act, and could also realize $1.0 billion in tax breaks. An investor group led by Apollo is also injecting$750 million in Wolfspeed. Shares of Wolfspeed (WOLF) soared nearly 25% Tuesday when the maker of high-speed semiconductors reported it could receive as much as $2.5 billion in funding under the CHIPS and Science Act of 2022, an ...