10 AI News and Ratings Investors Should Take a Look At

5. Wolfspeed, Inc. (NYSE:WOLF)

Number of Hedge Fund Holders: 26

Wolfspeed, Inc. (NYSE:WOLF) specializes in silicon carbide and gallium nitride technologies, offering power and RF devices for applications like electric vehicles, telecommunications, and industrial power systems.

On January 29, Wolfspeed (NYSE:WOLF) reported a fiscal ‘25 Q2 non-GAAP EPS of -$0.95, surpassing estimates by $0.05, with revenue of $180.5 million, down 13.4% year-over-year but exceeding expectations by $0.61 million. For fiscal Q3, the company projects revenue between $170 million and $200 million. GAAP net loss is expected to range from $295 million to $270 million, while non-GAAP net loss is forecasted between $138 million and $119 million, factoring in the issuance of 27.8 million shares.

According to the company, channel inventory has declined significantly in recent quarters, and long-term demand drivers, especially in AI and data centers, provide additional confidence. With substantial investments in renewable energy, the growing need for electricity generation and storage is expected to sustain demand.