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Biden admin to provide $750 million to North Carolina-based Wolfspeed for advanced computer chips

  • The Biden-Harris administration plans to provide up to $750 million to Wolfspeed, supporting its silicon carbide factory in North Carolina and another factory in Marcy, New York.
  • Wolfspeed's projects will create 2,000 jobs as part of a $6 billion expansion plan and enhance efficiency in computer chips for electric vehicles.
  • Wolfspeed expects a total of up to $2.5 billion in funding, with CEO Gregg Lowe noting the U.S. Produces 70% of the world’s silicon carbide.
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