Shares of Wolfspeed, which makes silicon carbide wafers and power chips, fell in after-hours trading despite beating analyst expectations on earnings.

While its fourth-quarter revenue of $150 million was in line with analyst expectations, its loss of $2.26 a share beat the expected $2.45 a share loss.

Shares fell 7% to $27 after closing down 7.5% in regular trading.

The company said AI data center sales increased by 20% in the fourth quarter, compared with the prior quarter, and doubled for the full fiscal year.

The Durham, N.C.-based company has two main businesses: sales of silicone carbide wafers in its materials division, and power chips and modules in its power products segment. While sales to the electric car industry in both divisions have declined amid lower demand for those vehicles, demand for its power products has increased from artificial-intelligence data centers in recent quarters.

The company emerged from Chapter 11 last September, and its shares are up 67% in 2026.

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