Onsemi Targets Over $3 Billion in AI Data Center Revenue by 2030
During the Q3 earnings call, Onsemi (ON) management reported demand-led outperformance, noting that growth exceeded seasonal trends. CEO Hassane El-Khoury highlighted significant acceleration within the AI data center segment and improving demand across industrial markets. The company has established a long-term strategic goal to reach more than $3 billion in revenue from AI data centers by 2030. This ambitious target is supported by major developments, including a $600 million deal with Ferric, signaling strong momentum in the high-growth semiconductor sectors required for artificial intelligence infrastructure.
Tickers: $ON
Topics: AI data center demand earnings report industrial sector growth quarterly results
Read the full article at Seeking Alpha
Part of the story Onsemi Announces $600 Million Cash Acquisition of Ferric to Boost AI Data Center Revenue (2 articles)