Chipmaker Wolfspeed's shares hit 27-year low over uncertain federal funding

Quick Summary:

Wolfspeed's shares lost half their value on Friday, hitting their lowest level since 1998, as funding through a Joe Biden-era legislation that promised subsidies for chip making in the United States remains uncertain.

Wolfspeed is waiting on about $750 million in federal funding under the U.S.

Including the session's losses so far, the stock has lost more than 59 per cent of its value this year.

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Article Details

Category: EconomyBusiness

Markets: SingaporeUnited States

Topics: Shares Grant Friday Carbide Wolfspeed’s Chips Funding Wolfspeed 2022 Silicon Chip

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-28 @ 23:01:09 (4 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 387 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 22 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 27387118

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Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

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