Key Points of the Investment

1. The U.S. Department of commerce and Wolfspeed, Inc. have signed a non-binding preliminary memorandum of terms for up to $700 million in funding.
2. The investment will support the construction of a new silicon carbide wafer manufacturing facility in Siler City, North Carolina.
3. Additional funding will aid the expansion of Wolfspeed's device manufacturing facility in Marcy, New York.
4. These projects are part of Wolfspeed's $6 billion capacity expansion plan, expected to create over 2,000 manufacturing jobs and 3,000 construction jobs.