All articles tagged with #automotive chips
Intel is shutting down its automotive chipmaking division, planning to lay off most employees and shift focus to its core client and data center businesses, despite previous investments and developments in automotive technology including Mobileye and AI-enhanced chips.
ON Semiconductor (ON) reported better-than-expected second-quarter earnings, driven by strong sales of chips for automotive and industrial applications. Automotive chip sales rose 35% YoY, exceeding $1 billion, while industrial chip sales increased 5% to $609.3 million. ON Semiconductor raised its expectations for the current quarter, predicting adjusted earnings of $1.34 a share on sales of $2.15 billion. ON stock surged 4.5% in premarket trading following the report.