DURHAM, N.C. — Shares of Wolfspeed Inc. surged more than 13% in morning trading Tuesday, climbing to $60.14 as investors cheered the silicon carbide specialist’s aggressive expansion into artificial intelligence data center power solutions following its announcement of a dedicated team in Silicon Valley.

The rally came on heavy volume, extending recent volatility in the stock that has seen dramatic swings amid the company’s post-restructuring recovery and growing ties to high-growth AI infrastructure markets. As of 11:28 a.m. EDT, Wolfspeed shares had risen $7.18, or 13.57%, on the New York Stock Exchange.

The move builds directly on Monday’s news that Wolfspeed established a new data center solutions team and regional office in Santa Clara, California. The initiative aims to strengthen collaboration with hyperscalers and original design manufacturers developing next-generation power architectures for AI clusters.

Strategic Expansion into AI Power

Wolfspeed appointed industry veterans Ganesh Srinivasan as senior vice president to lead the data center solutions team and Yogesh Ramadass as vice president of power systems solutions and fellow. Both bring deep experience from Texas Instruments and other major semiconductor firms.

CEO Robert Feurle highlighted the urgency of the shift. “The sheer scale of AI computing demands a fundamental rewrite of data center power architecture. Moving to higher voltages is no longer optional — it’s a necessity,” he said in the announcement.

Wolfspeed’s silicon carbide technology enables more efficient, compact power conversion critical for managing the massive energy demands of modern AI training and inference systems. The company positions its high-voltage SiC solutions as key to reducing energy loss in hyperscale facilities.

Post-Restructuring Momentum

The latest initiative comes months after Wolfspeed completed a significant financial restructuring, including Chapter 11 proceedings that reduced debt and strengthened its balance sheet. The company has refocused on core silicon carbide growth areas, including automotive, industrial, energy and now data centers.

Fiscal third-quarter results reported in May showed revenue of approximately $150 million, in line with guidance, though the company continued posting losses amid capacity ramp investments. Management projected fourth-quarter revenue between $140 million and $160 million.

Despite ongoing negative gross margins due to underutilized manufacturing footprint, investors appear to be betting on long-term potential in AI-related applications. Wolfspeed’s stock has shown strong year-to-date performance, though it remains well below peaks reached in prior years.

Market Context and Analyst Views

The surge reflects broader enthusiasm for semiconductor companies tied to AI infrastructure. Silicon carbide demand is rising as data centers seek higher efficiency to handle increasing power densities from advanced GPUs and accelerators.

Analysts have noted the company’s strategic repositioning. Some highlighted its fabs and specialized technology as difficult to replicate, contributing to optimistic commentary that has fueled recent buying interest. However, risks remain around execution, competition and the pace of AI capital spending.

Wolfspeed’s 52-week range illustrates the stock’s volatility, with shares trading significantly higher than earlier lows but facing pressure from macroeconomic uncertainties and sector rotations. Short interest has fluctuated but remains a factor in price swings.

Operational and Capacity Developments

The company continues expanding production capacity for silicon carbide wafers and devices. Recent product introductions, including new 3.3 kV power modules, target high-power applications in data centers and industrial markets. These launches align with the new data center team’s focus.

Leadership changes, including the Asia-Pacific regional president appointment effective June 1, further support global commercial execution alongside the U.S. data center push.

Challenges and Outlook

Wolfspeed operates in a capital-intensive industry where scaling production while maintaining quality and margins presents ongoing hurdles. The company has invested heavily in facilities, contributing to current losses but positioning it for potential volume growth as customer qualifications advance.

Broader semiconductor supply chain dynamics, including raw material costs and geopolitical factors, could influence results. Management has emphasized disciplined capital allocation following restructuring.

For fiscal 2026, the focus remains on improving utilization rates and securing design wins in high-voltage applications. The data center vertical offers a promising new revenue stream, though meaningful contributions may take several quarters to materialize.

Investor Sentiment and Broader Implications

Tuesday’s trading activity suggests renewed confidence in Wolfspeed’s AI adjacency story. The stock’s performance stands out against a mixed session for many technology names, highlighting the market’s selective appetite for thematic growth plays.

Longer term, success will depend on converting the Silicon Valley presence and new hires into tangible customer agreements and revenue. Hyperscalers’ aggressive data center buildouts provide a supportive backdrop, but competition from established power semiconductor players remains intense.

As the trading day continues, attention will likely stay on any follow-through momentum and potential analyst commentary. Wolfspeed’s trajectory reflects the evolving semiconductor landscape, where specialization in wide-bandgap materials like silicon carbide gains prominence amid the AI revolution.

Market participants will monitor upcoming updates on design wins, capacity ramps and fiscal fourth-quarter results for further signals on execution. With its strengthened balance sheet and targeted expansion, Wolfspeed aims to capitalize on one of the technology sector’s most dynamic growth areas.

LOS ANGELES — Taylor Swift has confirmed her collaboration with Pixar’s “Toy Story 5,” writing and recording an original song titled “I Knew It, I Knew You” for the animated film’s soundtrack, with the track scheduled for release on Friday, June 5.

The announcement, shared via Swift’s Instagram account on Tuesday, marks another high-profile Hollywood venture for the 12-time Grammy winner. Swift revealed she penned the song immediately after viewing an early cut of the movie, describing the experience as a longtime dream realized.

“I’ve loved these characters since I was five years old,” Swift wrote in her post, expressing enthusiasm for contributing to the beloved franchise. The single is now available for preorder on her website, including acoustic and piano versions alongside the main track.

“Toy Story 5” is set for theatrical release on June 19, continuing the story of Woody, Buzz Lightyear and the toy gang as they navigate new challenges. Tom Hanks and Tim Allen reprise their iconic roles as Woody and Buzz, with the plot centering on the toys competing for children’s attention against a new tablet device called Lilypad.

Fan Speculation and Marketing Tease

The collaboration had been building for days through cryptic marketing. Mysterious billboards featuring “TS” references appeared in major cities worldwide, sparking intense speculation among Swift’s dedicated fanbase, known as Swifties. Many noted the imagery included 13 clouds, a recurring number in Swift’s work symbolizing good luck.

Pixar amplified the buzz with social media activity highlighting Jessie and subtle nods to Swift’s lyrics. The coordinated campaign effectively blended the worlds of pop music and family entertainment, generating significant online engagement ahead of the official reveal.

Career Milestone Potential

The project positions Swift for a potential first Academy Award nomination in the Best Original Song category. Composer Randy Newman previously earned nominations for his work on the first four “Toy Story” films and won an Oscar for “We Belong Together” from “Toy Story 3.” Industry observers suggest Swift’s track could follow a similar path given her songwriting pedigree and the film’s anticipated commercial success.

Swift’s recent album “The Life of a Showgirl” has dominated charts, spending 12 weeks at No. 1 on the Billboard 200 and producing her longest-running Hot 100 single to date. The “Toy Story 5” contribution extends her reach into family audiences while maintaining her status as a cultural force across music and film.

Swift’s Hollywood Trajectory

This marks Swift’s latest foray into film soundtracks. She previously contributed “Carolina” to the 2022 film “Where the Crawdads Sing,” earning a Golden Globe nomination, and wrote songs for her own feature film projects. Her involvement in “Toy Story 5” represents a strategic alignment with Pixar’s global brand, known for emotional storytelling and massive box office returns.

At 36, Swift continues evolving her artistry while expanding her influence. The “Eras Tour,” which concluded in 2024, grossed more than $2 billion, cementing her as one of the most successful live performers in history. Her business ventures, including re-recordings of her catalog and merchandise lines, have further solidified her economic impact.

Toy Story Franchise Legacy

The “Toy Story” series has been a cornerstone of Pixar Animation Studios since the 1995 original revolutionized computer-generated imagery. The franchise has grossed billions worldwide and earned critical acclaim for exploring themes of friendship, loyalty and obsolescence. “Toy Story 4” in 2019 introduced new characters and concluded Woody’s arc, setting the stage for this fifth installment.

Director Josh Cooley returns for “Toy Story 5,” promising fresh storytelling while honoring the series’ emotional core. The introduction of the Lilypad tablet reflects contemporary concerns about technology’s role in childhood, providing narrative relevance for modern audiences.

Supporting voice cast includes established characters alongside potential new additions. Marketing materials emphasize the toys’ continued adventures in a digital age, blending nostalgia with contemporary resonance.

Music Industry Impact

Swift’s new single is expected to debut strongly on global charts. Her ability to mobilize fans has repeatedly translated into record-breaking first-week streams and sales. Preorder activity already signals robust interest, with retailers and streaming platforms highlighting the release.

The song’s title “I Knew It, I Knew You” has prompted fan theories about lyrical themes, though full details remain under wraps until Friday. Early speculation suggests it may touch on recognition, friendship or personal growth — motifs consistent with both Swift’s catalog and the “Toy Story” narrative.

Broader Cultural Significance

The collaboration underscores the increasing intersection of music superstars and family entertainment. Artists like Swift bring built-in audiences to films, enhancing marketing reach and emotional connection. For Pixar, partnering with a generational talent like Swift refreshes the franchise for younger viewers while appealing to parents who grew up with the original films.

Industry analysts project strong box office performance for “Toy Story 5,” potentially exceeding previous entries amid a recovering theatrical market. The film’s June release timing aligns with summer family viewing patterns.

Swift’s involvement has already boosted anticipation, with social media trends blending Swift lyrics with toy-themed content. This cross-promotion benefits both the artist and the studio, creating a multifaceted entertainment event.

What’s Next

Following the song’s release on June 5, focus will shift to the film’s June 19 premiere. Swift is expected to participate in promotional activities, potentially including red carpet appearances or social media content.

For Swift, the project fits into a busy period of new music and creative exploration. Fans await further details on future albums and tours while celebrating this family-friendly milestone.

The announcement reinforces Swift’s versatility as an artist capable of dominating charts, stadiums and now animated blockbusters. As “Toy Story 5” prepares to hit theaters, her contribution adds another layer of cultural excitement to an enduring franchise.

With the song dropping this week, audiences will soon hear how Swift interprets the world of toys in her signature style. The project represents more than a soundtrack addition — it signals continued evolution for one of music’s most influential figures.

Legal pressure is mounting on OpenAI as Florida pursues both civil and criminal investigations that state officials say could expose the company to potentially billions of dollars in damages.

Florida Attorney General James Uthmeier joined FOX Business’ Stuart Varney on “Varney & Co.” to discuss Florida’s lawsuit against OpenAI, the company behind ChatGPT, and what he described as evidence that the platform poses risks to children without stronger safeguards.

Sam Altman, chief executive officer of OpenAI Inc., speaks during BlackRock’s 2026 Infrastructure Summit in Washington, D.C. (Daniel Heuer/Bloomberg / Getty Images)

The lawsuit comes as lawmakers and regulators across the country debate how artificial intelligence should be regulated, particularly as younger users increasingly turn to AI chatbots for companionship, advice and information.

Uthmeier argued Florida’s investigation uncovered examples of harmful interactions involving ChatGPT and said the company failed to implement adequate protections for minors.

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“Our evidence shows countless examples of ChatGPT being used to encourage, aid and assist individuals, including children, in finding ways to hurt themselves, commit suicide, carry out violent attacks, even murder other people… We’re going to hold them accountable,” Uthmeier said.

Uthmeier also pointed to the 2025 mass shooting at Florida State University, claiming investigators found evidence the suspect used ChatGPT while planning the attack. The allegation is part of the broader argument Florida is making as it seeks increased oversight of AI platforms.

“The FSU shooter, we know for sure, was consulting ChatGPT on what guns to use, what ammo to use, what time of day to carry out the attack where he might run into as many people as possible on campus,” AG Uthmeier said.

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Those concerns have led Florida officials to push for stronger age-verification requirements and additional safeguards for younger users. Uthmeier compared the issue to Florida’s recent efforts to restrict social media access for children under 16, arguing AI platforms may require similar protections.

“What we want is programmatic changes to ensure that children cannot access this platform without parental controls being put in place,” Uthmeier said.

Uthmeier said Florida is seeking both significant financial penalties and platform changes, adding that OpenAI could be “exposed for possibly billions in damages here in the state of Florida.”

OpenAI has pushed back on claims that ChatGPT encourages harmful behavior, pointing instead to safety features designed to limit dangerous content and provide additional protections for younger users.

OpenAI did not respond to Fox News Digital’s request for comment.

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