Key takeaways
- ON fell 23.27% over the past month during a broad chip selloff, and the close sits about 53% below the 52-week high of $134.92.
- In June 2024, onsemi announced a brownfield investment of up to $2 billion to produce silicon carbide chips start to finish at Rožnov, mostly for electric vehicles.
- Onsemi agreed to buy Ferric for $600 million plus up to $175 million in milestone payments and raised its 2030 AI data center goal to more than $3 billion.
A Czech factory was supposed to anchor onsemi's electric vehicle future, backed by hundreds of millions in state aid. Now the plan is dead, and cheap imports and a pivot toward AI explain why the money is heading elsewhere.
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