Onsemi expects AI data-center revenue to more than double in 2026 as cyclical recovery takes hold

Onsemi's second-quarter results pointed to a broadening recovery in semiconductor demand, with AI data-center applications emerging as the company's fastest-growing business, while the automotive and industrial markets are showing signs of stabilization. The outlook suggests that improving utilization and product mix could support further margin expansion, though the absence of a major upside surprise in third-quarter guidance suggests a broader inventory-replenishment cycle has yet to begin.