Semiconductor manufacturer Wolfspeed is shifting its focus from the struggling electric vehicle (EV) market to high-margin defense contracts, according to a recent report. The company, a leading supplier of silicon carbide (SiC) wafers, has secured a significant deal with a major defense contractor to provide advanced components for next-generation fighter jets. This move marks a significant pivot for Wolfspeed, as it seeks to capitalize on the lucrative defense industry, which offers more stable and profitable opportunities compared to the EV sector. With the global defense market expected to continue growing, Wolfspeed's decision to diversify its portfolio could pay off in the long run.
Wolfspeed Ditches EV Woes for High-Margin Defense Jets Yahoo Finance
