Onsemi projects revenue surge as AI data‑center chip demand rises

Chipmaker Onsemi forecast third‑quarter revenue between $1.65 billion and $1.75 billion, above analysts’ midpoint estimate of $1.67 billion. The company said AI data‑center power‑management chips are its fastest‑growing business and expects total revenue to more than double by 2026, driven by expanding AI‑driven applications and robotics.

Onsemi posted second‑quarter 2026 results showing revenue of $1.604 billion, a 9 % year‑over‑year increase, GAAP EPS of $0.56 and non‑GAAP EPS of $0.74. Cash from operations rose 150 % and free cash flow reached $425 million. The firm highlighted its $7 billion all‑stock acquisition of Synaptics, the “Fab Right” cost‑cutting program that included the sale of two manufacturing facilities, and new AI data‑center platform wins with China’s Great Wall cloud provider.

CEO Hassane El‑Khoury said the strong demand for intelligent power solutions underpins the outlook, while CFO Thad Trent pointed to operating leverage and margin expansion as key drivers of profitability.