Onsemi forecasts upbeat revenue on surging AI data center chip demand

Aug 3 : Chipmaker Onsemi on Monday forecast third-quarter revenue above Wall Street expectations, betting on surging demand for power management chips used in AI data centers.Onsemi's results come as it looks to its biggest deal yet, a $7 billion all-stock acquisition of Synaptics announced in June, to tap into growing demand from AI devices and robotics. Here are some details:• Onsemi forecast its third-quarter revenue in the range of $1.65 billion to $1.75 billion, the midpoint of which is above analysts' average estimate of $1.67 billion, according to LSEG data. • "AI data center remains our fastest-growing business and we now expect revenue to more than double in 2026, demonstrating the strength of our intelligent power portfolio and growing customer adoption across the power tree," CE