15:51 - 24.06.2025

---

June 24, Fineko/abc.az. The leaders of American semiconductor manufacturer Wolfspeed (formerly Cree) decided to declare the company bankrupt due to unresolved financial problems and lack of government support.

ABC.AZ informs, since the beginning of 2025, manufacturer's shares have fallen by 96%. Securities were getting cheaper before, experts attributed this to the success of Chinese companies. So, a couple of years ago, a six-inch silicon wafer from Wolf speed cost approx $1,500. Chinese suppliers offer an analog for $500 and cheaper.

Company's owners expected to receive $1.75 billion in grants and tax benefits from the state. However, now assistance from the federal authorities is in question. According to the manufacturer's management, Wolf speed's bankruptcy will allow for restructuring and write off nearly 70% of company's total debt of $6.7 billion.