ON Semiconductor CEO Hassane El-Khoury defended the company's core business as shares tanked 20% after announcing its largest acquisition to capitalize on physical artificial intelligence . The maker of power and sensing components for the automotive industry on Thursday announced plans to buy edge AI and wireless connectivity solutions company Synaptics in an all-stock deal. The pivot into physical AI grows its addressable market by an additional $30 billion, or $243 billion, by 2030, On