onsemi designs and sells power semiconductors and image sensors, focused on EVs, industrial automation, and AI data centers. The company organizes its products around two families: "intelligent power" and "intelligent sensing." The intelligent power business — the larger of the two — includes SiC MOSFETs and modules, silicon MOSFETs, IGBTs, GaN devices, and power management ICs used in EV traction inverters, battery management systems, solar inverters, and AI data center power delivery. The intelligent sensing business centers on CMOS image sensors and ISPs, primarily for automotive ADAS and industrial machine vision. Automotive accounts for roughly 51% of revenue, industrial ~28%, and other (including AI data centers) ~21%. onsemi sells through three segments: Power Solutions Group (~47% of revenue), Analog and Mixed-Signal Group (~38%), and Intelligent Sensing Group (~15%). About half of revenue flows through distributors and half goes directly to OEMs and Tier 1 automotive suppliers. Gross margins are heavily tied to fab utilization across onsemi's owned front-end fabs in the U.S., Czech Republic, Japan, South Korea, and Malaysia. onsemi's growth strategy focuses on SiC for EVs and AI data centers, a proprietary vertical GaN platform targeting data centers and EVs with first revenue expected in 2027, and its Treo analog platform targeting $1B in revenue by 2030. onsemi is actively exiting lower-margin commodity products and has restructured its manufacturing footprint to reduce fixed costs.