Wolfspeed Reports 50% Revenue Growth in AI Data Centers Amid Weaker EV Demand
Wolfspeed Inc reported fiscal Q2 2026 revenue of $168 million, down 14.6% from the previous quarter. The decline was due to reduced demand for EV applications and inventory buildup before the closure of the 150mm-wafer Durham fab. However, the company experienced a 50% revenue increase in AI data-center applications. Following its emergence from Chapter 11 bankruptcy, Wolfspeed aims to enhance its financial position through strategic actions, including reducing operating costs and focusing on high-growth markets.
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Wolfspeed Inc reported revenue of $168 million for fiscal Q2 2026, a decline of 14.6% from the previous quarter, driven by reduced demand for electric vehicle applications and inventory buildup before the closure of its Durham fab. The company saw a 50% increase in revenue from AI data centers.
Following its emergence from Chapter 11 bankruptcy, Wolfspeed has improved its financial metrics, including a reduction in net loss to $159.3 million and enhanced liquidity with cash reserves increasing to $1.292 billion. For fiscal Q3 2026, the company expects revenue to decline to $140-160 million due to ongoing weak EV demand. Wolfspeed continues to focus on diversifying its revenue base and operational efficiency.
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