This is the first allocation of incentives from last year’s bipartisan CHIPS and Science Act, which provides more than $52 billion to boost the development and manufacturing of semiconductors in the United States.
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Wolfspeed is now “only pure-play silicon carbide semiconductor manufacturer in the industry,” says CEO Gregg Lowe after the Durham company on Monday completed the sale of its radio frequency business.
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“Qorvo delivered significantly improved financial performance in the September quarter supported by content gains at our largest customer,” Bob Bruggeworth, chief executive officer of Qorvo, says. That customer is Apple, says Reuters.
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Wolfspeed shares surged in after-hours trading Monday after the semiconductor company reported a big loss – but smaller than expected – and a financial outlook that investors apparently like. Plus its CEO remains bullish about the future as production ramps up across existing and upcoming plants.
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Apple’s “Scary Fast” Monday evening event was over in the blink of an eye, but if you missed it because of the unusual time, we have a quick overview of everything that Apple announced.
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At an event livestreamed on Monday night, the company introduced its next-generation family of custom-made processors – the M3, M3 Pro and M3 Pro Max – and along with it, a handful of new computers.
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Wolfspeed, which is in the middle of major expansions across its semiconductor footprint, on Tuesday shuffled its board.
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The Biden administration is reducing the types of semiconductors that American companies will be able to sell to China, citing the desire to close loopholes in existing regulations announced last year. Nvidia, Intel, AMD ARE affected.
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Qualcomm, one of the largest microchip manufacturers globally, is scaling back its workforce.
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