SiC

Wolfspeed, a SiC semiconductor leader, filed for Chapter 11 bankruptcy to restructure and reduce its $6.5 billion debt. The company secured $275 million in financing and aims to exit bankruptcy by Q3. Facing headwinds including reduced EV demand, high cash burn, and delayed government funding, Wolfspeed is restructuring to focus on high-growth sectors while cutting costs and shedding operations. This move highlights the semiconductor industry’s volatility, particularly impacting EV and renewable energy.