The Triangle semiconductor firm is headed toward bankruptcy within weeks, The Wall Street Journal reported, citing sources familiar with the matter.

(Reuters) -Semiconductor supplier Wolfspeed Inc is preparing to file for bankruptcy within weeks, as it struggles to address its debt pile, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter. Copyright 2025 Thomson Reuters.

Wolfspeed stock was plummeting on Wednesday after The Wall Street Journal reported the embattled chip wafer maker could file for bankruptcy within a matter of weeks. Shares plunged 56% to $1.38 ahead of the opening bell Wednesday.