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Onsemi forecast second-quarter revenue above Wall Street expectations on Monday, betting ‌on resilient demand for its chips ‌as the automotive industry recovers. The forecast underscores the rebound in ​demand for Onsemi's silicon carbide chips that are critical for extending the range of electric vehicles. "We exceeded expectations as demand strengthened through the ‌quarter and we ⁠have moved beyond the cyclical trough on a path to recovery," said ⁠CEO Hassane El-Khoury.

The company reported a loss of $33.4 million and posted higher revenue, boosted by chip demands from artificial-intelligence data-center builders.

Analog chips maker onsemi (NASDAQ:ON) will be reporting earnings this Monday after market hours. Here’s what to expect.