Wolfspeed Inc. WOLF, +2.07% shares are up 15.4% on premarket trades Wednesday, after the silicon-carbide materials specialist announced that it had received a deposit of $2 billion from Renesas Electronics Corp 6723,+1.78% to purchase its silicon-carbide bare and epitaxial wands for 10 years. Renesas stated that the deal would “pave Renesas’ way to scale up production of silicon-carbide power semiconductors beginning in 2025.”