Wolfspeed Inc.'s stock soared 6.03% in pre-market trading, mirroring a broad uptick in semiconductor shares.

The surge follows Intel's earnings report, which fueled optimism across the chip sector. Intel's shares jumped over 21%, while other semiconductor companies like AMD, Arm, and TSMC also posted significant gains.

As a key player in silicon carbide and gallium nitride semiconductor technologies, Wolfspeed benefited from the positive sector sentiment driven by Intel's strong results and outlook.