Wolfspeed Chairman told reporters CHIPS Act likely to ‘evolve’

Wolfspeed (WOLF) interim Executive Chairman Thomas Werner told reporters that the $750M funding agreement secured by the company under the CHIPS Act will likely “evolve” because the company “has evolved and because the chip office is different, there’s a new administration,” Lauren Ohnesorge of Triangle Business Journal reports. Shares of Wolfspeed are down 50%, or $2.67, to $2.70 in midday trading.