Onsemi is targeting more than $3B in AI data center revenue by 2030, backed by a $600M Ferric deal. That is a real re-rating lever for a name still priced off autos and industrial. AI exposure is the

What happened: Onsemi said it is acquiring Ferric for $600 million and raised its 2030 AI data center revenue target by $500 million to more than $3 billion, on its Q3 2026 earnings call. Key numbers: Q3 revenue $1.72 billion, non-GAAP gross margin about 41.2%, non-GAAP EPS $0.90. AI data center revenue $180 million, up 39% sequentially. Why it matters: Management tied the higher 2030 target directly to the Ferric acquisition and said Ferric should be accretive to growth and gross margin targets with EPS accretion at scale. AI data center is now reported as a fourth market segment. Market: -1.8% today ($338.32), +25.1% YTD, 1.5x vol — as of 00:45 UTC Verified: Q3_2026 (Nov 2) EPS $2.10 vs $1.98 est, +6.0% beat; next print ~Feb 1 Coverage: 3 outlets in 24h

Onsemi said it is acquiring Ferric for $600 million and raised its 2030 AI data center revenue target by $500 million to more than $3 billion, on its Q3 2026 earnings call.

Management tied the higher 2030 target directly to the Ferric acquisition and said Ferric should be accretive to growth and gross margin targets with EPS accretion at scale. AI data center is now reported as a fourth market segment. Market: -1.8% today ($338.32), +25.1% YTD, 1.5x vol — as of 00:45 UTC Verified: Q3_2026 (Nov 2) EPS $2.10 vs $1.98 est, +6.0% beat; next print ~Feb 1