onsemi Raises 2026 Outlook Following Strong Data Center Revenue Growth
onsemi (ON) shares rose approximately 3% following reports of significant growth within its data center segment. The company's AI-related data center revenue saw a substantial quarter-over-quarter increase of 39%, signaling strong demand for power management and sensing technologies in the artificial intelligence sector. Driven by this momentum, management has raised its calendar year 2026 outlook, projecting a massive 140% year-over-year growth rate for the segment. Analysts from Needham have highlighted these results as a key indicator of the company's expanding role in the AI infrastructure market.
Tickers: $ON
Topics: AI Revenue Data Center Quarterly Results