Wolfspeed posts 30% AI data center revenue growth and refinances $476M debt, boosting outlook.

Wolfspeed reported a 30% sequential increase in AI data center revenue for Q3, improved gross margins, and successfully refinanced $476 million in debt. The company is now viewed as a valuable AI infrastructure player rather than a struggling EV supplier. Its vertically integrated 200mm silicon carbide fab and pioneering 10kV MOSFET technology support a positive investment outlook, with a Buy rating and an $85 price target. The key future catalyst is expected to be the full utilization of its Mohawk Valley facility by fiscal year 2027.