Receives a loan of up to $1.5 billion from the U.S. Department of Defense! Silicon carbide chipmaker Wolfspeed (WOLF.US) surges in after-hours trading in response.

Zhito Finance APP has learned that the U.S. Department of Defense has committed to providing a conditional loan of up to $1.5 billion to silicon carbide chipmaker Wolfspeed (WOLF.US) to support the company's development of materials it describes as critical to national security. Boosted by this news, as of press time, Wolfspeed surged nearly 19% in U.S. after-hours trading on Wednesday.