Article

Wolfspeed is transitioning from a focus on electric vehicles to broader markets including defense, aerospace, and data centers. Following bankruptcy, it closed its Durham factory and reduced its workforce by one-third, achieving $200 million in annual savings.

Its Chatham County plant, finished but dormant, requires increased demand to activate its 1,800-worker capacity. The company announced a new 300mm silicon carbide wafer aimed at applications beyond power devices, such as in data centers. Despite a 10% stock drop after missing earnings expectations, Wolfspeed is preparing to scale operations as demand increases.