EXHIBIT 23.2

                         Consent of Independent Auditors

         We  consent  to the  incorporation  by  reference  in the  Registration
Statement (Form S-8 No.  333-_____) of Cree,  Inc.  pertaining to the Cree, Inc.
Fiscal 2001 Stock Option Bonus Plan of (i) our report dated July 21, 2000,  with
respect to the consolidated financial statements of Cree, Inc. and subsidiaries,
and (ii) our report  dated  March 26,  2000,  except for Note 8, as to which the
date is April 10, 2000, with respect to the financial statements of Nitres, Inc.
included  in its Annual  Report  (Form  10-K) for the year ended June 25,  2000,
filed with the Securities and Exchange Commission.

/s/ Ernst & Young LLP

Raleigh, North Carolina
October 26, 2000