onsemi's 2023 rewind shows how little chip LTAs actually bind when demand drops
bookwormengr · x · 2026-11-08
In Jan 2023 onsemi CEO Hassane El-Khoury insisted LTAs were legally binding take-or-pay agreements. By Oct 2023, after one automotive OEM cut demand, onsemi slashed its SiC shipment forecast from $1B to $800M+. A useful precedent for judging how binding today's AI compute LTAs really are.
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