Skip: 50% auto-anchored IDM with no AI data-center revenue line — 800V exposure is real but too dilute to size as AI thesis.

Skip: 50% auto-anchored IDM with no AI data-center revenue line - 800V exposure is real but too dilute to size as AI thesis. Q2 FY2026 results due 2026-05-06 (today): Power & Sensor Systems segment commentary may indicate AI data-center revenue starting to break out separately, but auto anchor is structural. Disqualification is structural, not informational - quarterly print will not change auto-anchored mix. Resolved data point: Innoscience won US ITC patent dispute against Infineon in December 2025 (TrendForce 2025-12-05; DigiTimes 2025-12-03) - meaningful counterpoint to CoolGaN moat narrative; matters at multiple, not at cash-flow generation. Downstream fee-shifting / design-around / licensing implications not yet parsed.

Deepest NVIDIA 800V DC content: CoolSiC JFET hot-swap (unique), CoolGaN, 12 kW reference designs. Scale and profitability at ~$72B market cap. Cross-license with Navitas. Lowest-beta way to own the 800V DC theme.