State Street Holds 3.8% Of Wolfspeed Without Seeking To Influence Its Control
The chipmaker is pursuing AI data-center growth while revenue falls, its workforce shrinks and a federal financing deal advances.
State Street reported a 3.8% passive stake in Wolfspeed, which makes silicon carbide materials and semiconductors that handle electric power, in an SEC ownership filing Tuesday. The position covered 2,001,159 common shares as of September 30, 2026, and State Street certified that it was not seeking to change or influence the company's control.
An AI Push Under Pressure
Wolfspeed is pursuing growth connected to AI data centers while contending with lower year-over-year revenue and a reduced workforce. Its $1.5 billion financing deal with the federal government was advancing, placing funding alongside the company's growth plans.
Shareholders have endured a much sharper setback: Wolfspeed shares lost at least 40% over the six months covered by Yahoo Finance's November 6 analysis. The company had a market value of $1.4 billion as of 10:20 a.m. ET Tuesday.
AI data centers are part of a wider customer base for Wolfspeed's power devices. It sells diodes, transistors and power modules for electric vehicles, charging systems, solar inverters, server power supplies and grid modernization, and also serves aerospace and defense applications.
Its materials business supplies wafers that customers use to build radio-frequency and power products. Most of its products are made at facilities in North Carolina, New York and Arkansas, with some work handled by contract manufacturers.
Voting Power Below The Holding
State Street's shared voting power covered 1,942,698 shares, rather than the full reported position. It reported no shares over which it had sole voting power.
The holding was acquired and maintained through ordinary business activity. State Street's certification places the position in the passive-ownership category rather than an effort to influence Wolfspeed's control.
Sources
- SCHEDULE 13G — STATE STREET CORPORATION re: WOLFSPEED INC (WOLF) — SEC EDGAR
- Chipmaker Wolfspeed looks to federal support as revenue falls - Triad Business Journal — bizjournals.com
- Wolfspeed Inc. (NYSE:WOLF) : Cases :: Law360 — law360.com
- Wolfspeed Inc. (NYSE:WOLF) : Articles :: Law360 — law360.com
- These 4 Trump-backed chip stocks have seen steeper losses than the beleaguered sector — Yahoo Finance
