Wolfspeed announced on March 28, 2025, that it has received $192.1 million in cash tax refunds. These funds are from the advanced manufacturing tax credit under Section 48D of the U.S. CHIPS and Science Act.
The received amount includes $186.5 million for fiscal years 2023 and 2024 taxes, along with accrued interest. This represents a portion of the approximately $1 billion total Section 48D cash tax refunds that the company expects to receive.
Wolfspeed anticipates receiving more than $600 million in additional cash tax refunds in fiscal year 2026. The company intends to utilize these proceeds to strengthen its capital structure and for general corporate purposes, reinforcing its liquidity position.
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