Renesas and Wolfspeed Sign 10 Year Silicon Carbide Wafer Supply Agreement
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Wolfspeed (WOLF) surges 16% after securing $2 billion deposit from Renesas to supply silicon carbide wafers
July 5, 2023 8:01 AM EDTShares of Wolfspeed (NYSE: WOLF) surged 16% in pre-open trading Wednesday after announcing a 10-year silicon carbide wafer deal with Japanese semiconductor company Renesas. The deal comes with a $2 billion deposit from Renesas to Wolfspeed.
The collaboration enables Renesas to expand the production of silicon carbide power semiconductors, starting in 2025.
Meanwhile, the $2 billion deposit... More
