Wolfspeed reaches $750M CHIPS Act funding agreement for New York expansion

Wolfspeed reached a $750 million preliminary memorandum of terms funding agreement under the CHIPS Act, unlocking an additional $750 million in private investment. The funding will accelerate expansion at the Marcy Nanocenter in Oneida County, New York, and support a new facility in Siler City, North Carolina.

“Wolfspeed has reached a $750 million preliminary memorandum of terms (PMT) funding agreement under the CHIPS & Science Law he led in writing and passing into law, helping them unlock an additional $750 million in private investment.”schumer.senate.gov

• 3 sources
• schumer.senate.govSCHUMER ANNOUNCES NEW $750 MILLION PRELI... | Senator Chuck Schumer of New YorkOct 15, 2024
• reuters.comEV chipmaker Wolfspeed set to receive $750 million US chips grant | ReutersDavid ShepardsonOct 15, 2024
• nist.govBiden-Harris Administration Announces Preliminary Terms with Wolfspeed to Solidify U.S. Technological Leadership in Silicon Carbide Manufacturing | NISTOct 15, 2024

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