onsemi Reports Q3 2026 Results Driven by Rapid AI Data Center Growth
onsemi (ON) reported strong third-quarter 2026 financial results, headlined by an $1.72 billion revenue figure representing 11% year-over-year growth. The company's performance was heavily bolstered by its AI data center segment, which saw revenue surge 175% year-over-year to $180 million. This momentum led management to raise its 2030 AI data center revenue target to over $3 billion following the announcement of the Ferric acquisition. While industrial and power solutions segments showed healthy growth, the automotive segment experienced a slight decline due to strategic supply reallocation toward higher-growth AI markets. Despite this shift, onsemi provided optimistic Q4 guidance with expected gross margin expansion and non-GAAP diluted EPS between $0.95 and $1.07. The company continues to prioritize high-demand technology segments where it remains supply-limited.
Topics: AI Data Center Revenue Financial Outlook Gross Margin Expansion Revenue Growth