Onsemi, the Scottsdale-based semiconductor giant, announced on Monday that it has agreed to acquire Ferric Inc., a New York-based startup that builds power-delivery chips for artificial intelligence processors, in a deal worth up to $775 million. The agreement calls for $600 million in cash at closing, with another $175 million possible if Ferric hits certain revenue milestones. The companies expect the deal to close by the end of the year, subject to customary closing conditions. Onsemi said the acquisition is part of a broader push into power delivery for next-generation AI processors. About 50 Ferric employees are expected to join onsemi once the deal closes, with most based in New York and Silicon Valley. Ferric specializes in integrated voltage regulators built from CMOS-integrated ferromagnetic thin-film inductors fabricated directly onto silicon, which the company says reduces board area by 50% to 70% compared with conventional discrete voltage-regulator setups, and holds more than 40 patents tied to that architecture. Onsemi said it expects no meaningful near-term financial impact but anticipates the deal will eventually boost long-term revenue growth and gross-margin targets. Onsemi also raised its 2030 AI data-center revenue goal by $500 million, now projecting more than $3 billion from that segment, after reporting that AI data-center revenue grew 39% sequentially and 175% year over year in its third-quarter 2026 results.