Company Profile: Wolfspeed, Inc.

Type: Semiconductor Manufacturer​

Headquarters: Durham, North Carolina, USA​

Founded: 1987 (as Cree, Inc.)​

Rebranded: 2021 (as Wolfspeed, Inc.)​

Employees: Approximately 5,013 (as of 2024)​

Website: wolfspeed.com

Oveview:

Wolfspeed, Inc., formerly known as Cree, Inc., is a leading developer and manufacturer of wide-bandgap semiconductors, focusing on silicon carbide (SiC) and gallium nitride (GaN) materials and devices. These technologies are pivotal in applications such as electric vehicles, renewable energy, telecommunications, and advanced power systems. ​

Recent Developments:

  • Leadership Changes: In November 2024, Wolfspeed’s CEO, Gregg Lowe, was ousted following a significant decline in the company’s stock value and operational challenges in scaling silicon carbide technology. Thomas Werner was appointed as executive chairman during the search for Lowe’s replacement. ​

  • Operational Challenges: The company faced difficulties in scaling up its silicon carbide technology, leading to disappointing financial results, workforce reductions, and project delays, including the suspension of plans for a new plant in Germany. ​

  • Expansion Efforts: Despite challenges, Wolfspeed is nearing the completion of a $5 billion semiconductor factory in Siler City, North Carolina, aiming to begin production in June 2025. This facility will manufacture advanced silicon carbide crystals for electric vehicles. ​

Financial Highlights:

  • Revenue: Reported at $525.6 million in 2023. ​

  • Stock Performance: As of February 28, 2025, Wolfspeed’s stock price was $5.78, with a market capitalization of $899 million. ​

Product Portfolio:

  • Materials: Silicon carbide and gallium nitride substrates and epitaxial wafers.​

  • Power Devices: SiC-based MOSFETs, Schottky diodes, and power modules designed for high-efficiency power conversion.​

  • RF Devices: GaN-on-SiC high-electron-mobility transistors (HEMTs) and monolithic microwave integrated circuits (MMICs) for radio frequency applications.​

Wolfspeed is committed to leading the transition from silicon to silicon carbide technology, aiming to enable more efficient and sustainable power solutions across various industries, including automotive, industrial, and communications sectors. ​

For more detailed information, visit Wolfspeed’s

Recent Developments at Wolfspeed