Wolfspeed Inc. (WOLF) experienced a significant pre-market surge of 6.35%, continuing its recent strong upward momentum.

The movement follows a bullish research report from Citrini Research, which listed the company as a key recommended target in the AI infrastructure sector. The report emphasized Wolfspeed's irreplaceable market position in silicon carbide for high-voltage applications, with its AI data center application business reportedly growing approximately 30% quarter-over-quarter. Analysts note the silicon carbide industry's valuation logic is shifting from new energy vehicles toward AI computing infrastructure, creating multiple positive catalysts for the stock.

Further bolstering market confidence, recent SEC filings revealed significant institutional accumulation. Citigroup increased its holdings by approximately 1.0119 million shares to a 6.77% stake, while Slate Path Capital raised its position to 9.99%. The stock also benefited from a broader rally in chip stocks during the session.