He also claims that the silicon carbide wafer deal with STMicroelectronics is proof that the company is pursuing its mission. “This agreement with Cree will improve our flexibility, sustain our ambition and plans, and contribute to boosting the pervasion of SiC in automotive and industrial applications,” stated Jean-Marc.Ĭree CEO Gregg Lowe stated that his company will continue to focus on boosting silicon carbide adoption. The company’s goal is to become the market leader with a market share worth $3 billion by 2025. He also added that the company wants to continue growing its silicon carbide business. STMicroelectronics CEO Jean-Marc Chery stated that his company is the only semiconductor manufacturer that currently mass-produces automotive-grade silicon carbide. The market is currently experiencing a unique period of demand and growth for silicon carbide devices. 50mm Epitaxial and Silicon carbide wafers worth roughly $250 million will be supplied through the deal. The agreement will allow Cree to supply its Wolfspeed silicon carbide (SiC) wafers to global semiconductor firm, STMicroelectronics. (NASDAQ:CREE) is off to a good start in 2019 courtesy of the recently announced multi-year silicon carbide wafer deal signed with STMicroelectronics NV (NYSE:STM). Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.Cree, Inc. The views and opinions expressed in this article are those of the authors, and do not represent the views of. All other data is provided by IEX Cloud as of 8:05 pm ET on the day of publication. Sources: Chart is provided by TradingView based on 15-minute-delayed prices.

Also, don’t forget to sign-up for the Daily Fix to receive the best stories to your inbox 5 days a week. For more news on the financial markets be sure to visit Equities News. To get more information on ST Microelectronics - New York Shares and to follow the company’s latest updates, you can visit the company’s profile page here: ST Microelectronics - New York Shares’s Profile. 63% of SPAC proceeds in 2020 were raised on the NYSE, including the six largest transactions. It is also the leader for initial public offerings, with $82 billion raised in 2020, including six of the seven largest technology deals. The New York Stock Exchange is the world’s largest stock exchange by market value at over $26 trillion.

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