Wolfspeed reported Q2 results following their emergence from Chapter 11. Revenue came in at $168 million with a GAAP net loss of $151 million. Gross margins are still struggling at negative 34% on a non-GAAP basis. They strengthened the balance sheet with a $700 million tax refund, ending the quarter with $1.3 billion in cash. Operating expenses have been cut and the Durham 150mm fab shutdown finished ahead of schedule. AI datacenter revenue was a highlight, growing 50% quarter-over-quarter. However, guidance for Q3 is lower at $140-160 million as customers work through inventory built up before the restructuring.