onsemi in Talks to Acquire Chip Startup Ferric for Approximately $1 Billion
nashnova research
Onsemi is negotiating to buy chip-power startup Ferric for close to $1 billion, with a deal possible within days. This would be its second major acquisition in a month — both pointing the same way: AI data-center power management is now a must-have for chip giants.
What does Ferric actually make — and why is it worth $1 billion?
Ferric builds integrated voltage regulators — technology that delivers power vertically, straight into the base of an AI chip, instead of routing it sideways through a separate power-management chip on the circuit board.
This means → the power path shrinks dramatically, cutting energy loss — a critical gain when a single AI chip can draw hundreds of watts.
But Ferric, founded in 2010, generates limited revenue according to PitchBook. A price tag near $1 billion looks steep for a startup with minimal sales.
Why is Onsemi buying twice in one month?
Earlier this month Onsemi announced a $5.7 billion all-cash deal for Synaptics, expanding into smart-device sensors and processors.
Adding Ferric would bring the combined tab to nearly $6.7 billion — a bold outlay for a company worth ~$30 billion with ~$6 billion in annual revenue.
In plain terms = Onsemi is betting real money that its future lies beyond auto and factory chips — deep inside the AI data-center supply chain.
Are rivals racing down the same track?
In May, Analog Devices closed a $1.5 billion acquisition of Empower Semiconductor, another startup focused on efficient power delivery for AI chips.
This means → two legacy power-chip giants moved on the same niche almost simultaneously, signaling that AI-driven power-management demand has hit a "buy now or fall behind" threshold.
This reflects a deeper shift: competition in AI chips themselves is already fierce — the surrounding infrastructure — power delivery, cooling, packaging — is becoming the next battleground.
What could still change?
According to *The Information*, citing people familiar with the matter, a deal could close within days — but talks are ongoing, terms may shift, and negotiations could still fall apart.
Onsemi reports quarterly earnings this Monday. A deal landing around that window would be a clear signal of its accelerating push into AI power management.
Onsemi has not responded to requests for comment; a Ferric spokesperson declined to comment.
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