Onsemi forecasts upbeat revenue on surging AI data center chip demand

Onsemi forecast third-quarter revenue between $1.65 billion and $1.75 billion on Monday, beating market estimates. The firm expects AI data center revenue to more than double by 2026. CEO Hassane El-Khoury said, "AI data center remains our fastest-growing business." Despite this, company shares fell 1.5% after the news got out.