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Chipmaker Wolfspeed Weighs Domestic Chip Factory Worth Over $2B: Report

  • U.S. power chip maker Wolfspeed, Inc (NYSE: WOLF) eyed a factory in Germany worth over €2 billion ($2.17 billion).

  • The German auto supplier ZF will hold a minority stake, Reuters reports citing a newspaper.

  • Production will likely begin in four years at the site in the small southwest German state of Saarland.

  • Also Read: US Chips Act Draws Investments; Wolfspeed To Build New US Factory To Tap Ballooning EV Demand

  • In 2022, Intel Corp (NASDAQ: INTC) named Magdeburg, Germany, as the site for its new mega chip manufacturing complex.

  • Intel aimed to build a chip factory in the country as part of a broader plan to invest up to €80 billion ($85.15 billion) over the next decade in building capacity across Europe.

  • German chipmaker Infineon Technologies AG (OTC: IFNNF) (OTC: IFNNY) eyed several billion euros on the right takeover target as it hunted for acquisitions.

  • Infineon saw growth in electromobility, autonomous driving, renewable energy, data centers, and the so-called internet of things, which help connect items like appliances, factory equipment, and health monitors to the internet or other communications networks.

  • The quest for domestic chip production gained traction since the pandemic disrupted global supply chains worsening the semiconductor crisis.

  • Countries started boosting their semiconductor technology position to reduce dependence on China and other Asian countries. The governments began doling out subsidies to encourage the domestic production of semiconductor chips.

  • Price Action: WOLF shares traded higher by 3.23% at $82.50 on the last check Monday.

  • Photo Via Company

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