Wolfspeed’s shares jumped nearly 20% post-earnings, reflecting strong momentum in AI-related product growth and clear progress in advancing technology leadership and operational initiatives.

• Revenue of $150 million came in at the midpoint of guidance, indicating stable top-line performance.
• AI data center applications grew approximately 30% sequentially, highlighting accelerating demand in a key end market.
• Introduced the industry’s first commercially available 10-kilovolt silicon carbide power MOSFET, expanding leadership in high-voltage applications.
• Completed planned shutdown of 150-millimeter device production, improving operational efficiency and preparing for 300-millimeter platform scale-up.
• Refinanced senior secured notes, showing proactive financial discipline and investor confidence in long-term growth prospects.