In its third-quarter 2026 earnings call, ON Semiconductor (ON) highlighted strong demand from AI data centers, with that revenue reaching $180 million, up 39% sequentially and 175% year over year, and its 2026 expectation raised to about $620 million, with revenue expected to double in 2027. The company announced a planned $600 million acquisition of Ferric, plus milestone-based payments of up to $175 million, and raised its 2030 AI data-center revenue target by $500 million to more than $3 billion. Automotive revenue fell 1% sequentially to $777 million as constrained supply was redirected to AI and industrial applications, while industrial revenue rose 10% to $467 million. Non-GAAP gross margin reached 41.2%, up 190 basis points sequentially, and management guided fourth-quarter revenues to $1.715–$1.815 billion.
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