Wolfspeed, Inc. announced it has received $698.6 million in cash tax refunds from the U.S. Internal Revenue Service under the Advanced Manufacturing Investment Credit (AMIC), as outlined in Section 48D of the Internal Revenue Code. This refund is part of an approximate $1 billion total in expected cash tax benefits under the program.
In fiscal year 2025, Wolfspeed had previously received $186.5 million in tax refunds related to its fiscal 2023 and 2024 federal filings. Following the latest payment, the company’s total cash position now stands at approximately $1.5 billion, enhancing its financial flexibility as it accelerates its 200mm silicon carbide manufacturing capacity ramp.
“This substantial cash infusion further strengthens our liquidity position at a critical phase in Wolfspeed’s strategic evolution,” stated Gregor Van Issum, Chief Financial Officer of Wolfspeed. “It provides us with the financial agility to support long-term growth, manage our capital structure responsibly, and continue driving innovation across the silicon carbide value chain for our customers.”
Wolfspeed plans to allocate $192.2 million from the refund to repay approximately $175 million in outstanding debt, with the balance reserved for general corporate purposes.
The funding strengthens Wolfspeed’s long-term investment in a vertically integrated, U.S.-based silicon carbide supply chain and accelerates its transition from 150mm to next-generation 200mm wafer technology. This platform is essential to meeting growing demand across key electrification markets including electric vehicles, AI data centers, aerospace and defense, industrial systems, and energy infrastructure.
With decades of expertise in silicon carbide materials and device production, Wolfspeed remains uniquely positioned to support global efforts to improve energy efficiency and drive sustainable innovation across critical sectors.
Original – Wolfspeed