WOLFSPEED Business Summary

Wolfspeed, Inc. (WOLF) operates as a pure-play leader in wide-bandgap semiconductors, specializing in silicon carbide (SiC) and gallium nitride (GaN) technologies. The company generates revenue through two primary business segments: Power Products, which manufactures SiC MOSFETs, Schottky diodes, and power modules for electric vehicles (EVs), AI datacenters, and renewable energy; and Materials Products, which supplies SiC bare and epitaxial wafers to global semiconductor manufacturers. Following its emergence from Chapter 11 restructuring in late 2025, Wolfspeed has pivoted its business model toward a high-efficiency 200mm manufacturing platform centered on its Mohawk Valley Fab, significantly reducing capital expenditures while scaling high-voltage solutions for the surging AI infrastructure market. The company competes directly with STMicroelectronics, Onsemi, Infineon Technologies, and ROHM Co., Ltd., positioning itself as a vertically integrated pioneer that maintains a dominant global share in SiC substrate production while aggressively expanding its footprint in the power device market. Originally founded in 1987 as Cree Research by a team including the late Dr. John Palmour and Neal Hunter, Wolfspeed is currently led by Chief Executive Officer Robert Feurle, a semiconductor veteran with over 30 years of experience at ams-OSRAM, Infineon, and Micron. The executive team includes Chief Financial Officer Gregor van Issum, formerly of NXP and ams-OSRAM, and Chief Operating Officer Dr. David Emerson, who oversees the company’s transition to 200mm and 300mm wafer technologies. The Board of Directors, chaired by Anthony M. Abate, was overhauled in September 2025 to include high-tech leaders such as Hong Q. Hou (CEO of Semtech) and Mike Bokan (formerly of Micron). Notable strategic stakeholders include Renesas Electronics, which holds a significant equity position following the company's court-approved restructuring, and the company continues to benefit from substantial U.S. CHIPS Act support and Section 48D tax credits.