ON Semiconductor Targets $11B Revenue by 2030 as AI Data Center Business Set to Double in 2026
ON sits 53% above its 52-week low of $44.56.
Summary
ON Semiconductor unveiled an ambitious 2030 plan targeting roughly $11 billion in revenue, up from a 10-12% CAGR model to 12-14%, driven primarily by AI data centers. Management expects AI data center revenue to more than double in 2026 and double again in 2027, reaching over $2.5 billion by 2030 from about $500 million in 2026. The company also announced a major Vcore socket win with revenue starting by end of 2026, and introduced its Embedded Power Platform with 3-5x higher power density, sampling in 2026. This follows the Q2 earnings beat and the Synaptics acquisition announcement, adding a concrete growth narrative to the stock. The stock is up 2.33% premarket, but remains 6.8% below its 20-day SMA and 14.3% below its 200-day SMA, indicating a technical repair phase. Key resistance sits near $74, with support around $55.
At the time of this announcement, ON was trading at $68.18 on NASDAQ in the Technology sector, with a market capitalization of approximately $25.9B. The 52-week trading range was $44.56 to $134.92. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.