Key Takeaways:
Wolfspeed reported AI data center revenue more than doubled year over year in fiscal 2026, rising about 20 percent sequentially in the fourth quarter.
"The results demonstrate the long-term potential of this moderate but growing opportunity," the Durham, North Carolina-based silicon carbide maker said in its earnings release.
Wolfspeed launched its fifth-generation silicon carbide MOSFET during the quarter, a step the company called a significant advancement in its technology roadmap. It also unveiled its first commercially available 10 kilovolt SiC power MOSFET for high-voltage data center power delivery, following roughly 30 percent sequential growth in AI applications in fiscal Q3.
Shares of Wolfspeed have climbed 82.6 percent year to date, and the stock surged 5.74 percent to $33.61 on Monday after Mizuho flagged a faster-than-expected NVIDIA Vera Rubin ramp anchored by xAI and Meta starting in the fourth quarter of 2026. Vera Rubin materially raises power management content per rack, so a bigger, on-schedule VR200 ramp means more power semiconductor content shipped across the rack.
The AI data center push comes as power semiconductor peers also ride the Vera Rubin wave. STMicroelectronics, up 110.14 percent year to date, raised its data center ambition to above $1 billion in 2026 and well above $2 billion in 2027. ON Semiconductor, up 52.65 percent, said content per rack climbs from $15,000 today toward $115,000 under 800V DC architecture, with AI data center revenue expected to more than double in 2026.
Position disclosures filed Aug. 14 add background color. In Wolfspeed, Two Sigma added to 2,272,968 shares valued at $109,670,706, Millennium added to 1,012,371 shares valued at $48,846,901, and Renaissance Technologies opened a new position of 498,900 shares valued at $24,071,925. These are point-in-time snapshots as of June 30, 2026.
The next hard checkpoint is ON Semiconductor's Analyst Day on Sept. 16 in New York, where management is expected to detail its AI power tree strategy. Investors will also parse NVIDIA's next quarterly update for confirmation of the fourth-quarter 2026 VR200 ramp trajectory Mizuho described. Any wobble in that schedule would test the group's recent rerating.
The AI data center ramp gives Wolfspeed a growth engine beyond its traditional EV and industrial silicon carbide base. Investors will watch NVIDIA's next quarterly update for confirmation of the fourth-quarter 2026 VR200 ramp trajectory, which would determine whether the group's recent rerating holds.
This article is for informational purposes only and does not constitute investment advice.
