Huo Xing Finance reports that on August 4, ON Semiconductor forecasted third-quarter revenue between $1.65 billion and $1.75 billion, exceeding analyst expectations, driven by surging demand for AI data center chips. The company also announced a $7 billion all-stock acquisition of Synaptics to expand into AI devices and robotics.
ON Semi Raises Q3 Revenue Guidance Amid Strong Demand for AI Data Center Chips
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Summary
On August 4, 2026, ON Semi raised its Q3 revenue guidance to $1.65–$1.75 billion, fueled by strong demand for AI data center chips. The update gained attention in on-chain news and AI + crypto circles, as the company also announced a $7 billion all-stock acquisition of Synaptics to enter the AI devices and robotics market. Analysts had anticipated lower figures.
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