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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.