NXP Semiconductors forecasts upbeat quarter as AI push pays off

NXP Semiconductors forecast quarterly revenue above estimates on Tuesday, signaling robust demand for its chips used in the automotive, industrial and data center markets.

NXP’s ‌gains in ⁠areas ⁠such as software-defined vehicles, radar and electrification have helped the automotive unit counter sluggish global vehicle production.

It expects third-quarter revenue of between $3.65 billion and $3.85 billion, the midpoint of which is above ⁠analysts’ average estimate ‌of $3.69 billion, according to data compiled by LSEG.