Pentagon to Loan Up to $1.5B to Bankrupt Chipmaker Wolfspeed

The US Defense Department pledged a conditional loan of up to $1.5 billion to chipmaker Wolfspeed, which filed for bankruptcy last year. The funds will support development of materials the company calls key to national security.

• Loan of up to $1.5 billion from the US Defense Department
• Wolfspeed filed for bankruptcy last year
• Funds target materials deemed key to national security
• The loan is conditional and may be smaller