Overview
- Wolfspeed shares, which jumped as much as 23% in premarket trading Wednesday, finished up about 6.8% and then pushed higher again as momentum built.
- A paywalled memo from Citrini Research labeled the company its single‑stock highlight for AI infrastructure and argued its factory capacity would be difficult for rivals to match.
- In its latest quarter, the company cut net losses by 58% to $119.9 million as revenue fell 18.9% to $150.2 million, and it guided to flat operating expenses with gross margins still negative next quarter.
- The stock’s surge follows a 2025 bankruptcy exit that removed about $4.6 billion in debt, with additional refinancing since then easing near‑term pressure on its balance sheet.
- Silicon carbide chips handle high voltage and heat better than standard silicon, which suits electric vehicles, heavy industry, and power‑hungry AI data centers, and the same thesis has lifted peers like Navitas and Vicor to triple‑digit 2026 gains.