According to CoinMeta, the U.S. Department of Defense has provided chip manufacturer Wolfspeed ( WOLF.N ) with a conditional senior guaranteed loan commitment of up to $1.5 billion over a period of 30 years to support the production of silicon carbide materials and wide-bandgap power devices in the United States. Under the terms of the deal, which are still subject to negotiation, Wolfspeed will provide the U.S. Department of Defense with warrants that will allow it to purchase up to 7.5% of the company's shares in installments. Wolfspeed filed for bankruptcy last July due to production issues at its key silicon carbide wafer factory. The company stated that it will use this funding to expand the production of silicon carbide materials and power devices for telecommunications, aerospace, and defense applications, as well as to upgrade the supply capacity of materials used in military communication systems. After the announcement, Wolfspeed's stock price rose by more than 28% after the market closed.