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Wolfspeed reported third-quarter fiscal 2026 revenue of approximately $150 million, in line with guidance, while continuing to execute on strategic initiatives focused on AI infrastructure, high-voltage silicon carbide technologies, and balance sheet optimization.
During the quarter, Wolfspeed highlighted approximately 30% sequential growth in AI data center-related business, signaling expanding traction in one of its targeted long-term growth markets. The company also introduced several notable technology milestones, including the industry’s first commercially available 10 kV SiC power MOSFET and a next-generation TOLT package portfolio designed for AI data center power systems.
Operationally, Wolfspeed continued advancing its 300 mm SiC substrate platform and shifted its Durham facilities toward materials production, aiming to improve long-term earnings potential and manufacturing efficiency.
Financially, the company reported a GAAP gross margin of negative 27% and a GAAP net loss of $120 million, reflecting ongoing underutilization costs and the heavy investment phase associated with scaling SiC manufacturing. Adjusted EBITDA was negative $62 million, while operating cash flow was negative $84 million.
A key development during the quarter was the refinancing of approximately $476 million in first-lien debt, which reduced total debt by $97 million and lowered annual interest expenses by an estimated $62 million. Wolfspeed also improved its equity position by more than $400 million, aided by refinancing actions and the completion of Renesas-related equity transactions following CFIUS clearance.
The company ended the quarter with approximately $1.2 billion in cash, cash equivalents, and short-term investments, providing liquidity to continue funding strategic priorities despite ongoing operating losses.
Looking ahead, Wolfspeed expects fourth-quarter revenue between $140 million and $160 million, with gross margins expected to remain negative as the company continues navigating a challenging near-term profitability environment.
From a market perspective, Wolfspeed’s results reflect the current state of the SiC industry: strong long-term secular demand driven by AI infrastructure, grid modernization, and electrification, but near-term financial pressure stemming from aggressive capacity expansion and slower-than-expected demand normalization in certain end markets. The company’s focus on high-voltage SiC, AI power systems, and 300 mm wafer technology underscores its strategy to position itself for the next phase of power semiconductor growth.
Original – Wolfspeed
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Veeco Instruments Inc. reported first-quarter 2026 revenue of $158.3 million, down from $167.3 million in the same period last year, reflecting a softer earnings profile despite continued momentum in AI-related markets.
The company posted a GAAP net loss of $0.3 million, compared to net income of $11.9 million a year earlier. On a non-GAAP basis, net income declined to $8.9 million from $22.2 million in Q1 2025, while diluted EPS fell to $0.14 from $0.37.
Despite weaker year-over-year profitability, Veeco emphasized strong operational execution and growing demand tied to AI infrastructure expansion and high-performance computing. The company highlighted particularly strong momentum in silicon photonics, where increasing optical connectivity requirements in AI data centers are driving equipment demand.
Management indicated that Veeco’s process equipment portfolio is becoming increasingly important for enabling next-generation AI systems, positioning the company for what it views as sustained multi-year growth opportunities.
Looking ahead, Veeco guided second-quarter 2026 revenue to a range of $170 million to $190 million, with non-GAAP EPS expected between $0.20 and $0.32. Full-year guidance remains unchanged, with revenue projected between $740 million and $800 million.
From a market perspective, Veeco’s outlook reflects a broader semiconductor equipment trend where AI-driven infrastructure investment is offsetting weakness in some traditional semiconductor segments. Silicon photonics, advanced packaging, and power-efficient interconnect technologies are emerging as key growth areas, particularly as hyperscalers scale next-generation AI data centers.
Strategically, Veeco appears well positioned in specialized process equipment niches tied to optical connectivity and advanced semiconductor manufacturing, sectors expected to see increasing investment as AI compute density and networking requirements continue to rise.
Original – Veeco Instruments
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onsemi reported stronger-than-expected first quarter 2026 results, signaling improving market conditions and accelerating growth in AI and automotive applications.
The company generated $1.51 billion in revenue, exceeding guidance expectations, with GAAP and non-GAAP gross margins both reaching 38.5%. Non-GAAP diluted earnings per share came in at $0.64, while onsemi also repurchased $346 million in shares during the quarter, highlighting continued focus on shareholder returns.
A major growth driver was AI data center demand, where revenue more than doubled year-over-year and increased over 30% sequentially. Growth was fueled by broader adoption of onsemi’s power solutions across multiple chip vendors and hyperscale customers, reinforcing the company’s expanding role in AI power infrastructure.
In automotive, onsemi continued to strengthen its position in next-generation EV architectures through its EliteSiC portfolio. The company highlighted expanded collaborations with Geely and NIO focused on 900 V EV platforms designed to improve charging speed and vehicle range.
The company also reported momentum in software-defined vehicle architectures, with initial production shipments of its Treo-based 10BASE-T1S Ethernet solutions to a major North American OEM. This reflects increasing semiconductor content in zonal vehicle architectures and automotive networking.
In industrial and energy infrastructure markets, onsemi secured a new design win with Sineng Electric for liquid-cooled energy storage systems and solar inverters, further diversifying its exposure to renewable energy and grid applications.
From a market perspective, the results suggest the company is emerging from the semiconductor downturn with improving operating leverage and stronger exposure to structural growth areas including AI infrastructure, electrified transportation, and industrial energy systems. The combination of operational cost optimization and rising demand in high-value applications positions onsemi to benefit from the next phase of semiconductor recovery, particularly in power and intelligent sensing markets.
Original – onsemi
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STMicroelectronics has introduced two new 100 W VIPerGaN high-voltage converters, expanding the use of GaN-based power conversion across consumer electronics, smart home systems, appliances, and building automation applications.
The new VIPerGaN100W and VIPerGaN100WB integrate a 700 V GaN transistor, gate driver, and flyback controller into compact 5 mm × 6 mm QFN packages. The VIPerGaN100WB supports higher peak current capability, allowing short-term output power up to 125 W for applications with inductive loads such as motors and solenoid valves.
The integrated GaN power stage features ultra-low RDS(on), enabling improved thermal performance and higher efficiency. By leveraging the high switching frequencies enabled by GaN technology, the converters reduce passive component size and improve overall power density.
ST also demonstrated the technology through its EVLVIPGAN100WP 100 W USB Type-C Power Delivery 3.0 reference design, which achieves over 92% peak efficiency and a power density of 24 W/in³. The design supports multiple USB-PD output profiles from 5 V to 20 V.
Technically, the converters operate in quasi-resonant flyback mode with zero-voltage switching, incorporating advanced power management features such as valley skipping, frequency foldback, and burst-mode operation to optimize efficiency across varying load conditions. Standby power consumption is reduced below 30 mW.
The devices also integrate extensive protection functions, including overvoltage, overtemperature, and brown-in/brown-out protection, simplifying system-level design and improving reliability.
From a market perspective, this launch reflects the ongoing expansion of GaN beyond premium fast chargers into broader consumer and industrial power applications. By integrating GaN power devices and control circuitry into highly compact solutions, ST is lowering the barrier to adoption for mainstream OEMs seeking higher efficiency, reduced size, and lower standby power consumption.
The move also strengthens ST’s competitive position in the growing integrated GaN power IC market, where ease of design integration and cost-effective scalability are becoming increasingly important differentiators.
Original – STMicroelectronics
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Power Integrations has appointed Michael Balow as Senior Vice President of Worldwide Sales, strengthening its executive leadership team as the company targets expansion in high-growth power semiconductor markets.
Balow brings more than 30 years of semiconductor industry experience, including senior sales leadership roles at onsemi, Infineon Technologies AG, Cypress Semiconductor, Freescale Semiconductor, and Integrated Device Technology. Most recently, he served as Executive Vice President of Sales at onsemi, overseeing global sales operations across automotive, industrial, sensing, and power markets.
In his new role at Power Integrations, Balow will lead the company’s global sales organization, channel strategy, and business growth initiatives. His appointment reflects the company’s increasing focus on expanding customer engagement and capturing opportunities in rapidly growing segments such as AI data centers, automotive electrification, and industrial power conversion.
From a strategic standpoint, the hire signals Power Integrations’ intent to accelerate commercial execution as demand for high-efficiency power semiconductors continues to rise. The company has recently expanded its GaN and high-voltage power conversion portfolio, positioning itself to benefit from trends toward higher power density, improved energy efficiency, and simplified power architectures.
The appointment also highlights intensifying competition across the power semiconductor industry, where companies are strengthening leadership teams to support growth in AI infrastructure, renewable energy, and electrification markets.
Original – Power Integrations
