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Wolfspeed (WOLF) shares opened higher on Thursday after the semiconductor company secured a conditional commitment for up to $1.5 billion in long-term financing from the U.S. Department of Defense. The financing is aimed at expanding WOLF’s domestic production of silicon carbide materials and wide-bandgap power devices, particularly for defense and other national-security applications.
Despite today’s gains, Wolfspeed stock is down about 60% versus its year-to-date high.
