Semiconductors

Wolfspeed is preparing to file for bankruptcy within a matter of weeks as the publicly traded chip component maker struggles to address its debt pile, according to sources familiar with the matter. 

After passing on multiple debt-holder proposals to restructure its debt out of court, Wolfspeed is aiming to hash out a chapter 11 plan that would have the support of a majority of its creditors, said the people.

The manufacturer of silicon-carbide wafers and semiconductor components primarily in the U.S. was poised to benefit from government funding as a result of Washington’s attempts to bring more semiconductor manufacturing stateside.

cross-posted from: https://andrew.masto.host/users/andrew/statuses/111958594144405494

US Department of Commerce announces CHIPS act preliminary agreement with GlobalFoundries, which will award approximately $1.5 billion to expand domestic production of semiconductors

https://www.whitehouse.gov/briefing-room/statements-releases/2024/02/19/statement-from-vice-president-kamala-harris-on-chips-and-science-act-preliminary-terms/

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