Post-bankruptcy, Wolfspeed receives nearly $700M tax refund from CHIPS Act

Wolfspeed: Meme Stock or Turnaround in the Making? Does This $700 Million Refund Change Anything?

Does Wolfspeed's CHIPS Act funding win position the stock for a big rally?

Wolfspeed gets nearly $700M tax refund after bankruptcy

Wolfspeed, a Durham-based semiconductor supplier, announced earlier this week that it has received $698.6 million in cash tax refunds from the Advanced Manufacturing Investment Credit (AMIC) under Section 48D of the Internal Revenue Code from the Internal Revenue Service (IRS) under a provision in the 2022 CHIPS Act. The news comes just over two months after the company announced that it had emerged from Chapter 11 bankruptcy protection followin…

Wolfspeed emerges from bankruptcy, receives $698.6M from IRS

(The Center Square) – Wolfspeed, the silicon carbide power solutions company headquartered in North Carolina once in line for three-quarters of $1 billion from the Biden administration, has emerged from Chapter 11 bankruptcy strengthened by $698.6 million in cash tax…

Post-bankruptcy, Wolfspeed receives nearly $700M tax refund from CHIPS Act

The money strengthens the chipmaker’s balance sheet post-bankruptcy and accelerates the production ramp of its 200-millimeter wafers.