ON Semiconductor reports $1,722.3 million Q3 revenue, guides Q4 to $1,715-$1,815 million

ON Semiconductor reported third-quarter revenue of $1,722.3 million, up 11% year over year, with GAAP diluted EPS of $0.79 and non-GAAP diluted EPS of $0.90. AI data center revenue rose 39% sequentially and 175% year over year, and non-GAAP gross margin expanded 190 basis points sequentially to 41.2%. The company guided fourth-quarter revenue to $1,715-$1,815 million and non-GAAP diluted EPS to $0.95-$1.07.