PXDAILY PXS
Grid, Power & Thermal Infrastructure

Research snapshot · 6/29/26

ONON Semiconductor

GAA and backside power delivery | Liquid-cooled busbar and DC power distribution

Open ON in Robinhood ↗
HOLD
Conviction●●○○○2 of 5
Research target135Snapshot target
Thesis statusWEAKENEDLast reviewed 6/29/26
Market cap49.34BSnapshot value
The thesis

Digital Infra/AI HW → Power semiconductor bottleneck for AI DC power + SiC for EV/robotics

Catalysts

Q1 FY26 $1.513B, AI DC >30% seq growth; $1.3B convertible financing; SiC EV ramp

What breaks it

AI DC power demand plateaus; SiC price war with STM/WOLF/Chinese competitors

Social sentiment

X: Q1 beat confirms AI DC power thesis; SiC EV dual exposure noted

Snapshot · 6/29/26
Smart money

🟡 Mixed · ins-$11.7M · 13F 14+/11- · short↑0.26

Snapshot · 6/29/26