Stories tracing the history of chipmaker Wolfspeed in NC and its future
This collection of stories explores strategic financial choices that are altering Wolfspeed's operational direction.
Wolfspeed's leadership overhaul, including the removal of its CEO, signaled a shift as the company pursued a turnaround. The company also seeks to secure essential funding through the CHIPS Act to facilitate manufacturing expansion. Wolfspeed reached a $2 billion wafer supply deal with Renesas, injecting needed capital for its Siler City plant project. An activist investor acquired a stake in Wolfspeed, aiming to influence company reforms, while reports of bankruptcy and subsequent restructuring plans place creditors in control of the firm.
Read the stories below.
NO. 1: WOLFSPEED INKS $2 BILLION SEMICONDUCTOR DEAL WITH EYE TOWARD INCOMING CHATHAM PLANT
Durham-based Wolfspeed has sought more money to fund its ambitious growth. | Published July 5, 2023 | Read Full Story by Brian Gordon
NO. 2: NC INVESTIGATES RALEIGH FIRM AFTER WORKER HOSPITALIZED FOLLOWING WOLFSPEED ACCIDENT
The state is categorizing the July 17 incident as a hospitalization. The status of the injured worker is not yet known. | Published July 18, 2023 | Read Full Story by Brian Gordon
NO. 3: WOLFSPEED UPDATES CONSTRUCTION, HIRING PROGRESS AT SILER CITY PLANT. HERE’S THE LATEST.
The Durham semiconductor company shares a timeline for launching production in Chatham County. | Published October 31, 2023 | Read Full Story by Brian Gordon
NO. 4: ACTIVIST INVESTOR BUYS STAKE IN DURHAM CHIPMAKER WOLFSPEED. WHAT THAT COULD MEAN.
The move comes as the chipmaker’s share price has sunk more than half in the past year. | Published November 22, 2023 | Read Full Story by Brian Gordon
NO. 5: NC CHIPMAKER WOLFSPEED FIRES CEO GREGG LOWE AS COMPANY SEEKS TURNAROUND
Wolfspeed’s board of directors decided to terminate Lowe’s employment “without cause," ending his time at the large Durham semicondcutor producer. | Published November 18, 2024 | Read Full Story by Brian Gordon
.JPG)
NO. 6: NC CHIPMAKER WOLFSPEED AWAITS CRITICAL CHIPS FUNDING AS TRUMP SLAMS SEMICONDUCTOR PROGRAM
Following months of negotiations, the Durham manufacturer in October received a $750 million award to fund its “nearly complete” $5 billion materials factory in western Chatham County. | Published March 6, 2025 | Read Full Story by Brian Gordon
NO. 7: DURHAM CHIPMAKER WOLFSPEED PLUNGES FOLLOWING CHAPTER 11 BANKRUPTCY REPORT
The Triangle semiconductor firm is headed toward bankruptcy within weeks, The Wall Street Journal reported, citing sources familiar with the matter. | Published May 21, 2025 | Read Full Story by Brian Gordon
NO. 8: WOLFSPEED RELEASES BANKRUPTCY PLAN, WHICH GIVES CREDITORS CONTROL OF NC CHIPMAKER
The struggling Durham semiconductor supplier details how it expects to emerge from Chapter 11. | Published June 22, 2025 | Read Full Story by Brian Gordon
The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.