ON Semi's $7B Synaptics Bid Under Scrutiny Amid AI Push

ON Semiconductor’s planned $7 billion acquisition of Synaptics has drawn investor questions, with Citi suggesting the deal could bolster its AI strategy by adding Astra AI processors and multimodal hardware, though details are still needed. The company says the deal could expand its total addressable market to about $243 billion by 2030, boost adjusted earnings within 18 months of closing, and generate roughly $200 million in annual synergies, while reaffirming its revenue and EPS guidance.