From Yahoo Finance: 2025-05-20 17:59:00

Semiconductor supplier Wolfspeed is preparing to file for bankruptcy due to its debt pile, with shares falling over 57% in extended trading. The company faces sluggish demand in industrial and automotive markets and tariff-induced uncertainty. Wolfspeed plans to file for Chapter 11 bankruptcy with creditor support after rejecting out-of-court debt restructuring proposals. The company raised going-concern doubts and forecast weaker-than-expected annual revenue, expecting $850 million in 2026, below analysts’ estimate of $958.7 million. Wolfspeed declined to comment on the matter.

Read more: Wolfspeed prepares to file for bankruptcy within weeks, WSJ reports