Wolfspeed shares jump 12% after hours on $1.5B conditional Pentagon loan

The significance here is less the headline number than the structure: a conditional Pentagon loan signals national-security framing for silicon carbide, a material whose supply chain sits close to defense and industrial policy. Wolfspeed's after-hours move reflects a market repricing around that backing, not around disclosed commercial terms. What remains open is how the conditions attached to the loan get defined, and whether similar state-linked financing becomes a template for other critical-materials producers.