This article is about SP80. There is also a video (see below) to explain the main features.
An excerpt about cavitation issue with hydrofoils:
You might expect the world’s fastest sailboat to levitate out of the water on a low-drag hydrofoil – but no. Swiss team SP80 has chosen a super-lightweight trimaran hull design, 10 m (33 ft) long and 7 m (23 ft) wide, that’ll stay in contact with the water. Hydrofoils, according to the team, aren’t suitable for this gig, since the low-pressure zone caused by these underwater wings causes water to boil into vapor at high speeds in a process called cavitation, causing dangerous levels of drag and instability at speeds over about 60 mph (~100 km/h).
Another excerpt:
It also needs to resist the kite’s tendency to pull the boat up and out of the water, so on the right side there’s a foil blade designed to pull downward and to the right as the speed comes up. Managing the kite will be a full-time job on high speed runs, so the SP80 seats two pilots. One in front to steer the boat, the other sitting behind in a tandem formation to operate the kite-sail.