onsemi expects Q2 2026 EPS, AI data-center revenue to double

Per Seeking Alpha's earnings-call coverage, onsemi reported Q1 2026 results that management framed as an inflection point, saying "This quarter marks a clear inflection point for onsemi." Seeking Alpha reports Q1 adjusted gross margin widened to 38.5%. Seeking Alpha reports management guided Q2 2026 revenue of $1.535 billion to $1.635 billion and Q2 adjusted EPS of $0.65 to $0.77. Seeking Alpha reports management expects AI data center revenue to double year-over-year in 2026. Reuters reporting summarized in a May 4 snippet lists Q1 revenue at $1.513 billion and Q1 adjusted EPS of -$0.08.

Seeking Alpha attributes the revenue and margin improvement to accelerating AI data center demand and portfolio actions, and notes that product exposures including Treo and GaN are contributing to growth. Seeking Alpha also reports management cited improved capacity utilization, pricing effects, and ongoing portfolio exits as factors supporting sequential margin expansion.

Editorial analysis: Companies with significant exposure to AI data-center demand typically see volatile but high-growth top-line moves when hyperscaler spending cycles reaccelerate. For semiconductor practitioners and supply-chain teams, rapid AI-driven demand growth often stresses fab utilization, BOM sourcing, and allocation across product lines. Margin upside tied to utilization and mix is a recurring pattern observed across peers when AI content ramps quickly.

Editorial analysis: Observers should track:

• •sequential revenue and booked AI design wins in the next two quarters
• •inventory and channel levels to validate demand sustainability
• •realized pricing versus booked ASPs. Public filings or subsequent analyst notes that quantify AI data-center revenue by product family would materially sharpen the picture. If Reuters or SEC filings provide reconciled GAAP and adjusted metrics, compare those to management's commentary to reconcile the EPS and margin narrative