A battery just stores "electricity" — but the thing that takes that charge and switches it thousands of times a second until it becomes the spin of a motor is a power chip inside the inverter box, one almost no outsider has ever heard of. This lesson drills into the chip itself — why switching from IGBT (the silicon workhorse used for decades) to SiC (silicon carbide) lets a car go farther and charge faster, why "800 volts" became a battleground, who controls this market, why the pioneer Wolfspeed went bankrupt even though the trend was right, and why China is starting a price war that's shaking the whole industry.
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News & notes movingEV Power Semiconductors (SiC / IGBT)
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Subaru Partners With onsemi to Evaluate Embedded Power Platform for Future EVs
Subaru has entered a strategic collaboration with onsemi to evaluate its Embedded Power Platform, a step toward integrating next-generation power architectures into future electric vehicles. Under the partnership, Subaru gains early access to engineering samples and technical expertise as it assesses whether onsemi's power semiconductor integration can deliver scalable, efficient solutions for vehicle electrification. The two companies said the work will explore how a more integrated power system design can improve vehicle performance, efficiency and design flexibility as automakers expand their electrified lineups. The collaboration was announced by onsemi on GlobeNewswire.
Musk Signals Deeper Tesla SpaceX Ties and Terafab Chip Push
Tesla CEO Elon Musk signalled closer operational ties with SpaceX, including potential corporate integration, during recent public comments. Musk highlighted a joint Terafab semiconductor manufacturing effort aimed at supplying custom chips for Tesla vehicles and energy products, and teased the upcoming Tesla Roadster reveal as a showcase for new technology that could leverage SpaceX-related engineering. The hinted Tesla SpaceX integration, the Terafab chip effort and the Roadster technology are only one part of Tesla's broader story, alongside its large electric vehicle operation and its energy storage and generation business. The Terafab partnership and talk of deeper SpaceX integration strengthen the part of the Tesla thesis that relies on tight vertical integration for AI hardware and software, pointing in the same direction as the robotaxi and Optimus plans, where the story depends on owning the full stack rather than relying on external chip suppliers like Nvidia. The news also leans into risks analysts already flag around heavy AI capex, execution complexity and regulatory friction, with a merger or deeper tie-up adding governance and integration questions on top of existing concerns about slower product ramps and already high spending, while competitors such as Mercedes-Benz or BYD keep pushing more conventional EV strategies.
Elmos Semiconductor Extends Dortmund Wafer Fab Supply Deal Through 2028
Elmos Semiconductor SE has extended its supply agreement for the Dortmund wafer fab, securing significantly increased capacity at the site until at least 2028. The Leverkusen-based maker of mixed-signal semiconductors for the automotive industry said the additional capacity from Dortmund complements its existing agreements with foundry partners, supporting its fabless strategy. CEO Dr. Arne Schneider called the extension a highly attractive solution that strengthens supply reliability amid strong global demand for semiconductor manufacturing capacity. The company pointed to structurally rising semiconductor content in vehicles, driven by electrification, autonomous and assisted driving, connectivity and digitalization, as well as sharply higher demand for high-voltage wafer capacity from data center and AI infrastructure expansion. Elmos said it is pursuing the added capacity at an early stage to increase available wafer supply and reinforce its supply chain resilience.
onsemi Unveils Embedded Power Platform, Plans 2026 Sampling
onsemi unveiled its Embedded Power Platform, a wafer-level power solution that integrates silicon, silicon carbide and gallium nitride dies to deliver higher power density and system-level co-optimization for AI infrastructure and electrified vehicles, with sampling planned to begin in 2026. The company also announced a technology engagement giving Subaru early access to the platform, a move that highlights how closer co-design around compact, efficient power electronics could influence future electrified vehicle architectures and development timelines. The platform fits onsemi's push to move more of its portfolio into higher-margin, system-level power solutions, coming after Q2 2026 results showed a return to profitability following a large one-off loss, with management guiding Q3 revenue to US$1,650 million to US$1,750 million. The company's narrative projects $9.0 billion in revenue and $2.5 billion in earnings by 2029, requiring 13.0% yearly revenue growth and about a $1.9 billion earnings increase from $630.2 million today. Near-term risks remain, including underutilized fabs and dependence on a still cyclical auto market.
onsemi Targets $213 Billion Market Opportunity by 2030
onsemi outlined a long-term growth strategy aimed at capturing a $213 billion total addressable market by 2030 across automotive, industrial, AI data center and emerging applications. The Scottsdale, Arizona-based chipmaker said power density has become the defining engineering constraint as AI, electrification and automation scale, and that it will leverage its power and sensing portfolio to address it. President and CEO Hassane El-Khoury said the company has spent years building expertise across power and sensing to help customers deliver more energy while consuming less space. onsemi highlighted three technology platforms it expects to drive growth: high-voltage technologies spanning silicon, silicon carbide and gallium nitride, including a differentiated vertical gallium nitride offering exclusive to the company; the Treo platform for high-precision analog, high-density digital and high-voltage intelligence; and the Embedded Power Platform, which uses the silicon wafer itself as the package to integrate silicon, SiC and GaN devices in a single wafer-level architecture. The company said the convergence of its end markets around common technology requirements allows it to deploy shared platforms across multiple applications and grow faster than the markets it serves.
Tesla Reclaims 52% of U.S. EV Market as Rivals Retreat
Tesla has reclaimed more than half of the U.S. electric-vehicle market, capturing 52% of U.S. EV sales through August, up from 43% a year earlier, according to The Wall Street Journal, citing data from Motor Intelligence. The gain reflects Tesla's relative resilience rather than a return to growth: its domestic sales fell 16% to 325,351 vehicles while the overall EV market contracted 30%. Tesla's market share had fallen to a record-low 41% in 2025 as competitors introduced more electric models and Chief Executive Elon Musk's political activities alienated some buyers, and its recovery has coincided with Ford, General Motors and other automakers reducing production or discontinuing EVs after federal incentives expired. The Honda Prologue, Volkswagen ID.4 and Ford F-150 Lightning are among the models being eliminated or phased out, while GM reduced production plans for the revived Chevrolet Bolt and Nissan delayed the least-expensive version of its new Leaf. The Model Y remains Tesla's main defense against the downturn, with sales declining only 2% this year and the SUV accounting for roughly one-third of all U.S. EV purchases, while Model 3 sales dropped 34% and Tesla sold only 9,769 Cybertrucks. Analysts expect Tesla to retain its dominant U.S. position while established automakers remain cautious about EV investment.
Xingrui Technology and Zhenqu Technology Sign Strategic Cooperation Framework Agreement
Ningbo Xingrui Electronic Technology Co., Ltd. recently signed a Strategic Cooperation Framework Agreement with Zhenqu Technology (Shanghai) Co., Ltd. The two parties will carry out deep collaborative cooperation in the fields of new energy vehicle electronic control, robotics, and solid-state transformers. The cooperation includes equity cooperation, with Xingrui Technology planning to participate in Zhenqu Technology's future IPO subscription, core electric drive business support, joint research and development of robot joint modules, joint development of solid-state transformers, and overseas market collaboration including production capacity layout in Europe. Zhenqu Technology is a domestically leading electronic control solution supplier, providing silicon carbide and IGBT power modules, motor controllers, and other products for new energy vehicles, and has already laid out emerging scenarios such as core components for humanoid robots and AI data center power supplies. This agreement is a framework agreement that does not involve specific transaction amounts, does not constitute a related-party transaction or major asset restructuring, and does not require review by the board of directors or shareholders' meeting. The company stated that this cooperation aligns with its strategic development plan, is conducive to enhancing its precision component technology research and production capabilities, will not have a significant impact on this year's operating performance, and that specific implementation remains subject to uncertainty.
Nvidia invests $3.5 billion in MediaTek AI chip deal
MediaTek announced a partnership with Nvidia on Monday backed by a $3.5 billion convertible bond investment, news that pushed MediaTek shares 10% higher on Tuesday and capped a gain of close to 200% for the Taiwanese chipmaker over the course of this year. The deal centers on MediaTek adopting Nvidia's NVLink Fusion platform, which lets hyperscalers and other technology companies build custom AI chips that integrate with Nvidia's data center infrastructure, and the two firms will also collaborate on chips for PCs and automotive platforms. Nvidia founder and CEO Jensen Huang called MediaTek "one of the world's great semiconductor companies," while MediaTek vice chairman and CEO Rick Tsai said the investment strengthens a collaboration spanning cloud AI infrastructure, local AI computing, and automotive. The partnership extends their existing work on Nvidia RTX Spark and DGX Spark chips and AI-powered automotive platforms, and MediaTek has previously collaborated with Nvidia on the GB10 Grace Blackwell Superchip. MediaTek, which leads global smartphone chip sales, disclosed in June that its custom AI chip division is on track to contribute $2 billion to this year's revenue, with the broader opportunity potentially reaching $80 billion by 2027.
Macro Micro Technology swings to profit in 2026 interim report, but non-recurring net profit still in the red and reliant on government subsidies
Macro Micro Technology released its 2026 interim report on August 28. Supported by its core power semiconductor business, benefiting from downstream demand growth in new energy vehicles, energy storage, and AI computing power, as well as a substantial increase in government subsidies, the company swung to a profit during the reporting period and achieved significant growth, though its non-recurring net profit remained in a loss position. During the reporting period, the company achieved operating revenue of 738 million yuan, up 8.49 percent year on year; net profit attributable to the parent company was 3.99 million yuan, up 33.84 percent year on year; and non-recurring net profit was negative 35.35 million yuan, a sharp year-on-year decline. Net cash flow from operating activities was 210 million yuan, turning positive from negative year on year, mainly due to the receipt of large government subsidies. The company's core products continued to ramp up steadily, with 1050-volt and 1200-volt IGBT and FRD chips adapted for photovoltaic and energy storage applications already in mass production, shipments of automotive-grade silicon carbide modules increasing, and 650-volt gallium nitride chips passing certification with AI data center power supply customers and gradually scaling up. Government subsidies recognized in current profit and loss during the period reached as high as 35.35 million yuan, a key factor in offsetting the core business loss and achieving book profit, while fair value gains from trading financial assets of approximately 11.48 million yuan also provided some support to profit. The company has laid out high-end products such as silicon carbide and gallium nitride and completed certification with some customers, and is expected to benefit from technological iteration, but it needs to guard against risks such as intensifying industry competition, raw material cost fluctuations, and uncertainty over the sustainability of government subsidies.
Qualcomm shares have risen 8.7% since its last earnings report, outperforming the S&P 500, but the company missed third-quarter fiscal 2026 earnings estimates while beating on revenue. Non-GAAP earnings were $2.21 per share, down 20% year over year and slightly below the consensus of $2.22, while revenues of $9.95 billion fell 4% but topped expectations by 2.4%. Handset weakness pressured results, with QCT handset revenues plunging 20% to $5.09 billion, but automotive revenues surged 61% to $1.59 billion, marking the 23rd straight quarter of double-digit growth, and IoT revenues rose 9% to $1.83 billion. Qualcomm raised its fiscal 2026 exit-rate outlook for annualized automotive sales to approximately $7 billion from $6 billion, and completed the $3.1 billion Modular acquisition. For the fourth quarter, the company forecasts revenues of $9.7-$10.5 billion and non-GAAP earnings of $2.05-$2.25 per share, with handset revenues expected around $5.2 billion and automotive revenues projected to rise about 60% year over year. Since the report, the consensus estimate has shifted down 12.97%, and Qualcomm holds a Zacks Rank #3 (Hold).
ROHM Introduces 650V IGBTs with Industry-Leading Low Loss
ROHM Semiconductor has developed 4th Generation 650V IGBTs for automotive electric compressors, HV heaters, and industrial equipment inverters. The new automotive-grade devices achieve class-leading low conduction loss with VCE(sat) of 1.55V, provide 7 microseconds short-circuit withstand time at 25 degrees Celsius junction temperature, and comply with the AEC-Q101 automotive reliability standard. The lineup includes 12 products in the TO-247N package and 10 bare wafer products, with 12 additional TO-247-4L package products under development. ROHM plans to further expand the lineup with compact surface-mount IGBTs using TO-263L and top-side cooling packages.
Roshow Technology disclosed its 2026 semi-annual report, achieving total operating revenue of 1.95 billion yuan, up 11.32 percent year on year, with net profit attributable to shareholders of 115 million yuan and non-GAAP net profit of 109 million yuan. Enameled wire business revenue reached 1.265 billion yuan, accounting for 64.87 percent of total operating revenue, up 30.82 percent year on year, while gross margin improved by 2.13 percentage points to 7.98 percent. The silicon carbide substrate business achieved key breakthroughs in 8-inch conductive and semi-insulating crystal growth technology, with defect density indicators entering the industry's first tier, and successfully developed 12-inch substrates. Related products have achieved stable sales and have been sent to leading domestic customers for testing. Photovoltaic power generation business revenue was 352 million yuan, with a gross margin of 57.05 percent. As of the end of the reporting period, total installed photovoltaic power station capacity was 813,100 kilowatts. The company's first-half research and development investment was 60.802 million yuan, up 29.62 percent year on year, focused on silicon carbide materials, high-end enameled wire, and electrification of aerial work platforms.
NavInfo first-half revenue hits 1.767 billion yuan, with data compliance and MCU businesses growing rapidly
NavInfo released its 2026 semi-annual report, achieving operating revenue of 1.767 billion yuan during the period, up 0.36 percent year on year, with the overall business foundation remaining stable. As the largest revenue pillar, the smart cloud business posted revenue of 1.285 billion yuan, up 1.59 percent year on year, of which data compliance services contributed 618 million yuan, surging 56 percent year on year. The smart cockpit business achieved revenue of 145 million yuan, up 22.91 percent year on year. In the chip segment, MCU product line sales volume grew more than 20 percent year on year and revenue grew more than 10 percent. The flagship automotive-grade MCU product AC7870x series passed TUV Rheinland ISO 26262 ASIL-D functional safety certification, and secured more than 20 new design wins from domestic and international customers during the period. In the company's SoC product line, shipments of the entry-level smart cockpit chip AC8015 have exceeded 5 million units, with overseas shipments accounting for more than 50 percent. In addition, in July 2026 the company officially became the lead unit of the MIIT TC8 data standards working group under the Ministry of Industry and Information Technology, and successfully won an overseas navigation project designation from a leading domestic automaker.
Chengdu Auto Show Reflects Industry Shift from Price Wars to Value Competition
The 29th Chengdu International Automobile Exhibition was held from August 21 to 30 at the Western China International Expo City, reflecting the domestic auto industry's departure from years of price-driven involution and its full entry into a new cycle dominated by value competition, with technology popularization and scenario-based segmentation advancing in parallel. Leading independent brands such as BYD, Chery, and Great Wall Motor exhibited with full-brand, full-category product matrices occupying entire halls, while mainstream joint-venture brands including Lexus, Infiniti, Dongfeng Nissan, Yueda Kia, and Dongfeng Honda were collectively absent, and ultra-luxury brands like Rolls-Royce and Bentley also did not appear. Data from the China Passenger Car Association shows that in July 2026, the domestic retail penetration rate of new energy passenger vehicles climbed to 65.1 percent, breaking through the 60 percent threshold on a stable basis for the first time. At this year's show, core technologies previously reserved for million-yuan-level high-end models, such as 800-volt high-voltage fast charging, lidar-based intelligent driving, full-domain chassis control, and silicon carbide oil-cooled electric drive systems, were comprehensively extended to mainstream family models in the 200,000-yuan and 150,000-yuan classes. The new Lynk & Co 20 comes standard with an 800-volt high-voltage platform, 6C ultra-fast charging, a lidar intelligent driving system, and a new-generation 16-in-1 silicon carbide oil-cooled electric drive. Geely Auto launched the Xingrui L Plus and the Boyue L i-HEV lidar version, and SAIC Roewe's Jiayue 07 made its first public appearance. IM Motors officially released its new product strategy, NEXT 2028, built on three core proprietary technology pillars: the NEO three-electric architecture, an aviation-grade safety full-by-wire chassis, and the IM Claw intelligent agent. BYD's second-generation blade battery and full-domain God's Eye intelligent driving system achieved deployment in high-difficulty scenarios such as narrow-space parking and customized parking. Joint-venture brands showed insufficient new product momentum and a slowing transformation pace. The Freelander brand, jointly created by Chery and Jaguar Land Rover, made its debut, and a small number of joint-venture new products such as the Buick GL8 Lushang and SAIC Volkswagen's all-new ID.ERA appeared, but their overall presence and product strength struggled to compete with the intensive technology and product iterations of independent brands.
Yangjie Technology's first-half net profit attributable to parent reaches 771 million yuan, up 28.2% year on year
Yangjie Technology released its 2026 half-year report, with first-half net profit attributable to the parent reaching 771 million yuan, up 28.2% year on year. The company's operating revenue was 4.515 billion yuan, up 30.7% year on year; non-GAAP net profit attributable to the parent was 724 million yuan, up 29.6% year on year; and net operating cash flow was 499 million yuan, down 34.1% year on year. Second-quarter operating revenue was 2.39 billion yuan, up 27.2% year on year, and net profit attributable to the parent was 386 million yuan, up 17.5% year on year. The company said that as demand in the power semiconductor industry continues to grow, especially in areas such as AI data centers, new energy vehicles, and solar-storage-charging, its business has improved significantly, and it has stepped up research, development, and promotion of high-end products such as MOSFETs, IGBTs, and SiC.
Qualcomm's Auto and IoT Growth Offsets Handset Weakness
Qualcomm is diversifying into automotive, Internet of Things, and data center computing as its handset business weakens. Combined automotive and IoT revenues grew 28% year over year in the fiscal third quarter of 2026, and management expects non-handset revenue growth to accelerate from 24% in fiscal 2026 to more than 60% in fiscal 2027. However, Qualcomm expects its modem share in the upcoming iPhone launch to be materially below its prior 20% assumption, and Apple product revenues are expected to fall about 50% sequentially from the September to December 2026 quarters. Qualcomm CDMA Technologies' earnings-before-taxes margin fell to 26% in the fiscal third quarter from 30% a year earlier, and the company guides for a 23%-25% margin in the fiscal fourth quarter. QCOM trades at 4.0 times trailing 12-month enterprise value-to-sales, below its five-year median of 4.1 times, and carries a Zacks Rank of 3, or Hold.
Asia-Pacific 48V Systems Market to Reach $29.94 Billion by 2035
The Asia-Pacific automotive 48V systems market is projected to grow from $6.68 billion in 2025 to $29.94 billion by 2035, at a 16.17% CAGR, according to a new report from ResearchAndMarkets.com. Stricter emissions standards, government incentives, and demand for affordable electrification are accelerating 48V mild-hybrid adoption across China, India, Japan, South Korea, and Southeast Asia. These systems deliver 10–15% fuel-efficiency gains and serve as a bridge between conventional engines and full EVs. The report profiles key players including Hitachi, Nidec, and Mitsubishi Electric, and highlights challenges such as high implementation costs, complex system integration, and battery supply chain vulnerabilities.
Naxin Micro Expects First-Half Net Profit of About 67 Million Yuan, Turning Around from Loss
Naxin Micro disclosed an earnings forecast, expecting a net profit attributable to the parent of about 67 million yuan in the first half of 2026, turning from a loss to a profit year-on-year. Benefiting from multiple factors such as recovering domestic demand, accelerating exports of optical storage and automobiles, and surging demand for AI computing infrastructure, customer demand in downstream sectors including automotive electronics, server power supplies, photovoltaics and energy storage, and industrial automation has grown rapidly, and the company's related product shipments have increased significantly.
ON Semiconductor Q2 revenue hits $1.6 billion, AI data center revenue expected to more than double in 2026
ON Semiconductor reported second-quarter revenue of $1.6 billion, a 6% sequential increase driven by accelerated demand in AI data centers, with non-GAAP gross margin expanding 80 basis points to 39.3% and non-GAAP earnings per share rising 16% to $0.74. The company now expects AI data center revenue to more than double in 2026, supported by design wins in the Nvidia MGX ecosystem and Amazon’s AWS power supply platforms, while energy storage systems revenue is forecast to grow approximately 40% year over year. Automotive silicon carbide revenue in China is projected to increase between 60% and 70% in 2026, reflecting market share gains with customers such as Geely Zeekr and Xiaomi. Free cash flow nearly quadrupled year over year to $425 million, and the company returned $332 million to shareholders through share repurchases. For the third quarter, ON Semiconductor guided revenue of $1.65 billion to $1.75 billion, non-GAAP gross margin of 40% to 42%, and non-GAAP earnings per share of $0.81 to $0.93.
Baird Raises ON Semiconductor Target to $108, Keeps Neutral on Share-Loss Concerns
Robert W. Baird analyst Tristan Gerra raised his price target on ON Semiconductor to $108 from $100 while maintaining a Neutral rating, citing improving momentum in AI data centers, industrial markets, electric vehicles, and China, along with higher factory utilization and a favorable product mix that could push gross margins above 50% this cycle. However, Gerra flagged market share losses in industrial, automotive, and analog as a key concern, noting that peers STMicroelectronics and Texas Instruments are growing faster, with Texas Instruments' analog segment posting 26% growth in its fiscal second quarter versus ON Semiconductor's 9% overall revenue increase. ON Semiconductor's second-quarter results beat expectations and third-quarter guidance came in above Wall Street estimates, with non-GAAP gross margin seen at 40% to 42%, up from 39.3%, and CEO Hassane El-Khoury reaffirmed that AI data center revenue is on track to more than double in 2026. Hedge fund ownership dipped from 63 to 58 funds, though total holdings edged up to $1.64 billion, while short interest stands at 11.05%, painting a mixed sentiment picture.
Qualcomm signs long-term chip deal with BMW for next-generation driver-assistance systems
Qualcomm signed a long-term deal to supply chips for BMW's future digital cockpit and advanced driver-assistance systems through the next decade. The agreement names Qualcomm as the automaker's lead compute silicon provider for next-generation digital cockpit, ADAS and automated driving systems, spanning the Snapdragon Cockpit, Ride and Elite platforms plus dedicated AI accelerators. No financial terms were disclosed. The deal builds on a partnership that already put the Snapdragon Ride Pilot system into BMW's iX3, and it arrives while Qualcomm is pushing to diversify beyond a shrinking handset business, with automotive revenue up 61% year over year and a $65 billion design-win pipeline.
Aptiv cuts 2026 revenue guidance to $12.6B-$12.8B on China weakness, targets $300M robotics and drone revenue
Aptiv lowered its full-year 2026 revenue guidance to a range of $12.6 billion to $12.8 billion, citing prolonged sales weakness in the domestic China market and reduced production schedules from luxury European automakers exporting to China. The company also pointed to approximately $150 million in customer production schedule changes, $100 million in program launch and ramp delays, and $50 million in software and services enterprise sales timing as factors behind the reduction. Adjusted EBITDA is now expected between $2.31 billion and $2.37 billion, with adjusted earnings per share of $5.60 to $5.80 and free cash flow of $625 million to $725 million. In the second quarter, Aptiv posted revenue of $3.3 billion, adjusted EBITDA of $613 million, and earnings per share of $1.63, while repurchasing $250 million in shares and targeting over $600 million in buybacks for the full year. The company also disclosed its first commercial award from a leading drone manufacturer, a five-year program with total lifetime revenues exceeding $500 million, and expressed high confidence in achieving annual revenues of about $300 million from robotics and drone markets over the next few years.
Gate Driver IC Market to Reach USD 2.91 Billion by 2035
The global gate driver IC market is projected to grow from USD 1.76 billion in 2025 to USD 2.91 billion by 2035, expanding at a compound annual growth rate of 5.19 percent, according to a report by SNS Insider. High voltage gate driver ICs held a 37.26 percent revenue share in 2025 and are expected to grow at the fastest rate of 5.89 percent, driven by demand in electric vehicles and renewable energy systems. Silicon-based semiconductors dominated with a 61.84 percent share, while the silicon carbide segment is forecast to grow at the highest CAGR of 7.35 percent. Asia Pacific led the market with a 38.76 percent share in 2025, with China as the largest contributor, and North America is expected to record the highest growth rate over the forecast period.
Zacks Highlights NIO, Mobileye, Hesai, and Ouster as Top Stocks for Rising EV and AV Adoption
Zacks Investment Research identifies NIO, Mobileye Global, Hesai Group, and Ouster as four stocks poised to benefit from accelerating electric vehicle and autonomous driving adoption. The global EV market saw sales climb 20% year over year to more than 20 million units in 2025, according to the International Energy Agency, with projections of 23 million units in 2026. The autonomous vehicle market is forecast to grow from $3.36 trillion in 2025 to $41.75 trillion by 2034, per Fortune Business Insights. NIO is gaining traction with its expanded lineup including the ES8 and ES9 models and its Onvo and Firefly sub-brands, while Mobileye advances its EyeQ platform and autonomous mobility partnerships with Volkswagen and Stellantis. Hesai expects lidar shipments to nearly double to 3 to 3.5 million units in 2026, and Ouster launched its REV8 native color lidar platform, scaling production through Benchmark Electronics.
Qualcomm Automotive Revenue Surges 61% to Record $1.6 Billion
Qualcomm's automotive revenue surged 61% year over year to a record $1.59 billion in its fiscal third quarter, even as the stock dropped 11% after earnings. Total revenue of $9.95 billion beat consensus by 2.84%, but non-GAAP EPS of $2.21 missed by a penny, and handset revenue fell 20% to $5.09 billion. CEO Cristiano Amon targets $40 billion in non-handset revenue by fiscal 2029, with growth accelerating to more than 60% in fiscal 2027. The company was named BMW Group's lead compute silicon provider for next-generation digital cockpit and automated driving systems, and it closed the acquisition of Modular Inc. 24/7 Wall St. maintains a buy rating and a $242.62 price target on Qualcomm shares, implying 55.85% upside from the current price of $155.68.
Micron Technology Completes Multi-Year Automotive AI Memory Deals with Qualcomm, Visteon, and Others
Micron Technology has completed multi-year Strategic Customer Agreements with major automotive ecosystem suppliers including Qualcomm, Visteon, HARMAN, JOYNEXT, DENSO, Astemo and Hyundai Mobis to secure long-term access to advanced memory and storage for AI-enabled vehicles. These agreements provide clearer visibility on future technology and supply needs, supporting investment decisions as automotive platforms adopt more complex AI workloads and require reliable component lifecycles. The deals add another long-duration, AI-heavy end market on top of hyperscale data centers, fitting into Micron's investment narrative that AI-driven demand for DRAM, NAND and HBM can sustain its recent profit boom. Near-term catalysts still center on AI infrastructure spending, execution on Micron's US$250.00 billion-plus buildout, and any shift in pricing power if Chinese competitors scale faster than expected. Insider selling and sector volatility keep valuation and cyclicality risks in focus, with fair value estimates from the Simply Wall St Community ranging from roughly US$550 to just above US$2,000 per share.
Qualcomm automotive revenue surges 61% in Q3, CFO says
Qualcomm's automotive segment was the highlight of the quarter, with revenues growing 61% year-over-year, CFO and COO Akash Palkhiwala said. The company is forecasting another 60% growth next quarter, driven by broad adoption of its automotive solutions across global OEMs. Palkhiwala also highlighted opportunities in AI data centers, where Qualcomm's power-efficient chip technology is attracting hyperscaler interest, and in IoT devices like Meta glasses that use Snapdragon chips for AI capabilities.
Qualcomm Says Apple Modem Revenue Will Decline Faster Than Expected
Qualcomm said revenue from its Apple modem business will decline faster than previously expected as the iPhone maker accelerates adoption of its in-house modem technology. The decline will begin in Qualcomm's fiscal fourth quarter after its modem share in Apple's next iPhone lineup fell materially below its earlier estimate. Qualcomm expects growth in non-handset businesses, including artificial intelligence data centers and automotive chips, to offset the reduction over time, reiterating goals of $5 billion in AI data center revenue by fiscal 2027 and $15 billion by fiscal 2029. The company also plans to increase prices beginning September 1 to offset higher supply chain costs, while reporting fiscal third-quarter handset revenue of $5.09 billion, down 20% from a year earlier, and forecasting fourth-quarter adjusted earnings below Wall Street expectations.
SAIC MG 07 Opens Pre-Sales, Bringing Premium Features Down to the 120,000 Yuan Segment
SAIC Motor's MG brand officially opened pre-sales for the MG 07 on the evening of July 29, launching five variants with a starting pre-sale price of 125,900 yuan. The vehicle packs premium features such as a CATL battery offering 845 kilometers of range, a semi-solid-state battery with 650 kilometers of range, an 800-volt high-voltage platform, 5C fast charging, the Momenta R7 lidar intelligent driving solution, mCDC intelligent electromagnetic suspension, and a HeatMatrix active-cooling electric motor, bringing technologies previously reserved for luxury models down to the 120,000 to 160,000 yuan market and realizing SAIC's vision of technology equality. The MG 07 comes standard with mCDC intelligent electromagnetic suspension across the lineup, and all but the entry-level variant include an AI preview function that scans for speed bumps and manhole covers in advance and adjusts damping firmness in milliseconds. Its 18-in-1 active-cooling electric drive system, HeatMatrix, integrates thermal management into the motor, enabling unlimited launch control without heat degradation and solving the durability challenge of motor cooling. The car also features a VMC blowout stability control system and the Momenta R7 lidar-based advanced intelligent driving solution, supporting AES automatic evasive steering at 130 kilometers per hour at night. SAIC's nearly 190 billion yuan in R&D investment in intelligent electric technologies and over 24,000 valid patents form a technological moat, with its technology foundation fully entering the 2.0 era. In addition, SAIC is rolling out a pop-up store marketing model for the MG 07, with 100 pop-up stores set to open gradually across 59 cities nationwide, signaling a shift in its marketing approach.
Qualcomm completes $3.9 billion Modular acquisition and secures long-term BMW chip deal
Qualcomm completed its $3.9 billion acquisition of AI-software startup Modular and secured a long-term chip agreement with BMW, sharpening its push beyond smartphones just hours before its earnings report. The Modular deal adds software designed to run AI efficiently across CPUs, GPUs and other accelerators, strengthening Qualcomm's attempt to compete from personal devices to data centres. Qualcomm had agreed to issue up to 19.2 million shares to Modular's owners. The BMW agreement will see Qualcomm supply Snapdragon Digital Chassis technology for next-generation digital cockpits, advanced driver-assistance systems and AI accelerators through the next decade, though financial terms were not disclosed. Qualcomm reports fiscal third-quarter results after Wednesday's close, with analysts expecting roughly $9.7 billion in revenue and adjusted earnings near $2.22 per share.
Qualcomm Q3 earnings to spotlight AI data center push amid smartphone slump
Qualcomm is set to report third quarter earnings on Wednesday, with investors focused on how the global memory shortage and AI buildout are pressuring smartphone sales and on the company's expansion into AI data centers. The chipmaker is expected to post earnings per share of $2.21 on revenue of $9.6 billion, down from $2.77 and $10.3 billion a year earlier. Handset sales within its QCT segment are projected to fall roughly 21% year over year to $4.9 billion, while automotive sales are anticipated to rise 49% to $1.4 billion. Qualcomm aims to diversify beyond handsets, targeting $5 billion in data center revenue by fiscal 2027 and doubling its non-handset sales projection to $40 billion by fiscal 2029.
Qualcomm wins BMW chip supply deal for future vehicle platforms
Qualcomm has signed a long-term deal to supply chips for BMW's future digital cockpit and advanced driver-assistance systems through the next decade. The agreement covers Qualcomm's Snapdragon Digital Chassis solutions, including cockpit processors, automated driving chips, and AI accelerators, which will form the hardware basis for BMW's AI-led platforms. No financial details were disclosed. The deal expands an existing partnership that previously launched the Snapdragon Ride Pilot driver-assistance system in BMW's electric iX3.
Major companies including Renesas and Toyota halt factory operations after Kumamoto earthquake, impact spreads
Following the Kumamoto earthquake, many companies including Renesas Electronics and Toyota Motor have suspended factory operations. Renesas has halted operations at its Kawashiri and Nishiki plants and is proceeding with cleanroom inspections. Sony Semiconductor Solutions has stopped production at its Kumamoto Technology Center and is assessing damage to buildings and facilities. Toyota Motor will suspend operations at three plants in Fukuoka Prefecture through the night shift on the 31st, and will decide on August 3rd or later resumption on the 31st. Honda has extended the shutdown of its Kumamoto factory through the 31st, while Bridgestone has suffered minor damage to some facilities at its Kumamoto plant and production remains halted. Aeon Kyushu has suspended operations at a total of 17 stores, including four general merchandise stores in Kumamoto Prefecture.
NXP Semiconductors beats Q2 revenue estimates but stock drops 6.4%
NXP Semiconductors reported second-quarter revenue of $3.5 billion, beating Wall Street estimates by 0.8% and growing 19.5% year on year, yet its stock fell 6.4% to $243.00. Adjusted earnings per share came in at $3.61, surpassing the consensus of $3.53, and adjusted EBITDA reached $1.37 billion with a 39.2% margin. The company guided for third-quarter revenue of $3.75 billion at the midpoint, above the $3.71 billion analyst forecast, and adjusted EPS of $4.11, exceeding the $4.03 estimate. CEO Rafael Sotomayor highlighted growth across all end markets and regions, driven by Software-Defined Vehicles, Physical AI, and an emerging Data Center segment. Despite the beats, inventory days outstanding remained elevated at 156, above the five-year average, and the market reacted negatively amid broader sector uncertainty.
Qualcomm Doubles Non-Handset Revenue Goal to $40 Billion by 2029
Qualcomm has doubled its fiscal 2029 non-handset revenue target to $40 billion, according to O'Keeffe Stevens Advisory's second-quarter 2026 investor letter. At its June investor day, the company also lifted its automotive revenue target to $10 billion and announced a deal with Meta to supply data center CPUs for AI infrastructure, with production of its Dragonby C1000 slated for 2028. The advisory firm trimmed its Qualcomm position after the stock appreciated materially, citing an oversized portfolio weight and less attractive risk/reward. Qualcomm closed at $170.04 per share on July 27, 2026, with a market capitalization of $179.22 billion.
Japan 7.1 Earthquake Severely Impacts TSMC, Evacuates Staff, Toyota and Honda Halt Production
A powerful magnitude 7.1 earthquake struck southwestern Japan on Tuesday evening, July 28, prompting Taiwan Semiconductor Manufacturing Company, the world's largest chipmaker, to evacuate all employees from its plant in Kumamoto Prefecture. Meanwhile, Honda Motor suspended operations at its Kumamoto factory, which produces automobiles and motorcycles, until Wednesday evening, July 29, and its subsidiary Astemo Uki halted production at a plant in the same prefecture, with several injuries reported. Toyota Motor Kyushu announced a temporary production suspension at all three of its plants in Fukuoka Prefecture for safety inspections, with plans to resume operations on Wednesday morning. Nippon Paper Industries disclosed that the chimney at its Yatsushiro plant in Kumamoto Prefecture suffered severe damage, with the upper section collapsing. Additionally, Kura Sushi closed six outlets in Kumamoto Prefecture, Seven-Eleven Japan shut some branches, Koikeya stopped production at its local plant, and transport companies including Sagawa Express, Yamato Transport, and Japan Post temporarily suspended parcel delivery services in Kumamoto Prefecture and some other areas.
InnovestX Sees SET Moving Sideways Down, Pressured by DELTA and Falling Oil
Pobchai Pattarawich, stock and derivatives market strategist at InnovestX Securities, said the Thai stock market is likely to move sideways down in a range of 1,630 to 1,650 points. Although tensions in the Middle East have started to ease, the market still faces pressure from DELTA's earnings and lower oil prices. DELTA's second-quarter 2026 results came in about 35 percent below analyst expectations due to higher raw material costs amid shortages of specialized chips and high-power electrical equipment. The analyst meeting and management's outlook will be closely watched, as they could lead to downward revisions of 2026 profit forecasts from the previous expectation of over 30 percent growth. Meanwhile, WTI crude oil prices fell around 5 to 6 percent, likely weighing on upstream energy stocks such as PTTEP, as well as refinery and petrochemical names like BCP, TOP, SPRC, PTTGC, and IVL. However, tourism, hotel, airline, power plant, and finance stocks may see buying interest from lower energy costs and declining bond yields. For short-term investment strategy, the firm recommends The Erawan Group, or ERW, expecting second-quarter 2026 profit to grow about 21 percent year-on-year, the strongest in its sector, and Global Power Synergy, or GPSC, which benefits from lower gas costs and bond yields, along with positive factors from the new power development plan, or PDP 2026, expected to be announced next month.
STMicroelectronics and FocalPoint Launch Advanced Vehicle Positioning Solution
STMicroelectronics and FocalPoint have launched a commercially available advanced vehicle positioning solution. The partnership integrates FocalPoint's GNSS technology onto STMicroelectronics' automotive-grade hardware for use in production vehicles, targeting safer and more accurate positioning in challenging driving conditions and dense urban areas. The S GNSS Auto software runs as a firmware upgrade on ST's Teseo hardware, allowing the solution to target both current and next-generation platforms without requiring a full hardware redesign. This launch adds to STMicroelectronics' automotive offering alongside its existing semiconductors and sensors, and may help the company deepen content per vehicle and defend share against peers such as NXP, Infineon and Texas Instruments.
DELTA Q2 profit rises 31.3% to 6.075 billion baht, AI demand drives revenue surge
Delta Electronics Thailand reported a second-quarter 2026 net profit of 6.075 billion baht, up 31.3 percent from the same period last year but down 33.1 percent from the previous quarter. Sales revenue rose to 65.191 billion baht, growing 46.5 percent year-on-year and 6.2 percent quarter-on-quarter, supported by demand for products related to artificial intelligence technology and data center infrastructure. However, profit was pressured by higher raw material costs, material shortages, additional inventory provisions, and an incremental tax expense of 1.032 billion baht under the OECD Pillar Two rules. Meanwhile, the electric vehicle energy business still faces volatile demand. The company is accelerating production capacity expansion and has started operations at two new factories in the Bangpoo Industrial Estate to meet rising orders.
Micron shares rise after Elon Musk thanks company for significant memory chip allocation
Micron Technology shares rose 3.1% after Elon Musk publicly thanked the company during Tesla's Q2 2026 earnings call for providing a very significant allocation of memory chips on reasonable terms. Musk described memory pricing as pretty insane and said the allocation would help Tesla in the years to come. TrendForce reported that Micron's Strategic Customer Agreements already cover roughly 20% of its DRAM output and about one-third of its NAND volumes, with Tesla appearing to join an expanding roster of AI-driven customers that includes GM, Ford and Anthropic. The broader memory sector also gained, with SanDisk, Western Digital and SK Hynix each up about 2% and the Roundhill Memory ETF rising 2.6%.