Power Semiconductors (SiC & GaN) — Market

Verified claims and product-axis read for Power Semiconductors (SiC & GaN). Every fact below is sourced; every product judgment traces back to underlying signals.

Verified facts

• Wolfspeed's 200mm wafer cost target is reportedly 50% lower per device than 150mm at maturity per management commentary. ↗ (other)
• Texas Instruments TI Aizu fab (Japan) brought GaN power production in-house in 2023 with 150mm GaN-on-Si wafers. ↗ _(historical_event)_
• Power Integrations' InnoSwitch with PowiGaN integrates GaN into a flyback controller and ranks #1 by units in fast-charger ICs since 2022. ↗ (other)
• Honda's 2026 0 Series EV announced partnership with Hitachi-Astemo for SiC inverter, with Renesas as device supplier. ↗ _(historical_event)_
• GaN-on-Si 8-inch device cost is estimated at 30-40% below 6-inch by Innoscience public statements in 2024. ↗ _(historical_event)_
• Wolfspeed had ~$8B of design-in pipeline as of Q3 FY2024 earnings, with auto >60%. ↗ (financial)
• The 800V HVDC data-center spec promoted by NVIDIA at GTC 2025 cites projected ~5% efficiency gain vs. 54V architectures. ↗ (other)
• TSMC's GaN-on-Si foundry service is rumored to be wound down by 2027 with capacity converted to other processes. ↗ (other)
• Coherent sold a 25% stake in its SiC business to DENSO and Mitsubishi Electric for $1B in 2023. ↗ (financial)
• onsemi's EliteSiC M3S 1200V MOSFET datasheet (NTHL040N120M3S) lists 40 mΩ typical RDS(on) and AEC-Q101 qualification. ↗ (other)

Top products (engine read)

GaN Power FETs (discrete) — discrete power transistor

Opportunity: Yole projects discrete GaN power devices ~$2B by 2029 at ~46% CAGR (9df10597) and three IDMs (Infineon/Renesas/TI) bought or in-housed GaN since 2023 — clear strategic land grab.

GaN FETs are the topic's highest-conviction growth product: capacity moves and M&A are concentrating supply into Infineon/Renesas/TI alongside pure-plays Navitas/EPC/Innoscience; the bottleneck is winning a 48V/datacenter socket before commoditization.

SiC Power Modules — power module

Opportunity: Massive multi-year SiC LTSA backlogs (onsemi >$11B, Wolfspeed ~$8B pipeline) anchored by EV traction + aero electrification — yet Wolfspeed entered Chapter 11 and module supply consolidating.

SiC power modules remain the topic's volume engine: every IDM has booked auto LTSA capacity, but Wolfspeed's Ch.11 restructuring + Tesla's 75%-less-SiC reset has shaken the demand curve and reshuffled who actually ships modules.

800V HVDC Data Center Power Architecture — rack power architecture

Opportunity: NVIDIA's GTC 2025 800V HVDC spec (2a671ace) reframes rack power around SiC HVDC + GaN POL — and retail/investor demand explicitly asks where the AI power/infrastructure gap gets filled (973ffffa).

800V HVDC is the single hottest near-term socket inside power-semi: NVIDIA defined the architecture, Infineon is hiring AI-datacenter BD, EPC has a part already aimed at the 48V intermediate — but no one has the full reference design wrapped up yet.

GaN Power Supplies (consumer chargers / PSUs) — AC-DC power supply / charger

Opportunity: Discussion shows clear consumer demand pull for GaN beyond laptops (desktop ATX, hobbyist HDPlex, 'why isn't this GaN?' on Apple PSUs) — but Navitas Q1 2025 print (66784c9d) confirms the existing mobile-charger socket has saturated/contracted.

Consumer GaN charger is the topic's cautionary tale: socket exists and users want it, but mobile-charger ASP/volume collapse has knocked the pure-play (Navitas) ~39% YoY — next leg requires premium desktop/ATX or PD-laptop adoption, not phones.

See the Products and Strategy modules for the full product list and forward-looking judgment.