October 7, 2025 /SemiMedia/ — Wolfspeed said it has emerged from bankruptcy protection after slashing nearly 70% of its total debt and cutting annual cash interest expenses by about 60%, giving the company greater financial flexibility to continue supplying silicon carbide chips to customers.

The company filed for Chapter 11 protection in late June in Texas after warning in May that U.S. trade policy shifts and weakening demand had created severe uncertainty over its ability to continue operations. The restructuring is expected to stabilize its finances and allow Wolfspeed to refocus on long-term growth in silicon carbide technology.

As part of the reorganization, Wolfspeed has added five new board members, including former Micron senior vice president of global sales Mike Bokan and Corning president Eric Musser, who is set to retire this year.

Wolfspeed specializes in silicon carbide semiconductors, which are more energy-efficient than traditional silicon chips. These devices are widely used in electric vehicles, solar inverters, and industrial power systems, where high-performance power conversion is essential. With demand for EVs and renewable energy infrastructure rising, Wolfspeed aims to leverage its restructuring to strengthen its position in the SiC market.