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Struggling Semiconductor Firm Wolfspeed Files for Bankruptcy

Wolfspeed Inc., a chipmaker caught in President Donald Trump’s push to reshape Biden-era tech subsidies, filed bankruptcy to enact a creditor-backed plan to slash $4.6 billion in debt.The North Carolina-based company filed petitions for reorganization under Chapter 11, according to a statementBloomberg Terminal released on Monday. It expects to emerge out of bankruptcy by the end of the third quarter, it said....

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