Hassane El-Khoury : Yes. Look, I mean, in all fairness, let me just give you a little bit of a time-based questions. A lot of the ramps that are happening today are ramps that have been on, call it, three, maybe four years ago. Before onsemi was, call it, a credible and a focused player in silicon carbide, we talked about our strategy of doubling down on silicon carbide in 2021. So my focus and our strategy and a lot of the wins that we have are forward-looking. Obviously, they already started. They are ramping our — for — against that $1 billion we have in ’23, but forward- looking. So how it’s split, like I said, most of the platforms are single sourced. So I can tell you because the packaging is not like it’s swappable.
So most of them are single source. There are a few cases where we may share a platform, but majority of them are single sourced. And those will be ramping. Think about what we’re winning now is in the ’25, ’26 and beyond. What we are ramping now has already been won a few years ago. So that gives you a little bit on the timing of what others have been disclosing, which is not a surprise to me, by the way.
Joseph Moore : Great. And then in terms of the forward-looking outlook, you guys talked about maybe exiting a higher amount of business than you have the last couple of quarters of $75 million. So how much of the cautious guidance is sort of the factors that you’ve talked about in the nonautomotive markets versus the ability to maybe at a less tight supply environment to exit some of those businesses more quickly?
Thad Trent : Well, it’s really a combination of both, right? In Q4, we exited $17 million. It was below our expectations than what we thought we would exit. In Q1, we’re looking at $75 million. So I think it’s a combination of that. We’re definitely seeing slowness in the other noncore markets, right? Consumer and compute has been down. It continues to be down. As I said, our automotive, we expect to be up sequentially in Q1. And we think industrial has got some headwinds as well. But so — I would look at it as a cautious guide, but it’s kind of taken into account the exits as well as just the overall softness that we’re seeing right now.
Operator: Our next question comes from Rajvindra Gill from Needham & Company.
Rajvindra Gill : Congrats on the silicon carbide ramp. Just a follow-up on the long-term supply agreements. I was wondering if you could maybe talk about any changes that you’re seeing within those agreements? I know a couple of quarters ago, you talked about certain customers requesting more volume near term, some customers extending the agreements, some customers requesting higher volumes. So any kind of positive specific changes within those LTSAs that you would like to call out or noticeable?
Hassane El-Khoury : Yes. Look, it’s been the same. When we — we’ve done a lot of amendments — what we call amendment where customers came in and wanting more volume, and obviously, in the areas where we have been able to release volume because of the decline in the other markets and our ability to convert. We have been able to sign up for more volume for the customer, still, unfortunately, less than what their demand natural demand would be. But we have been able to increase that. So customers always engage with us on kind of almost what about now? What about now? Are we able to get that? Some of the technology or medium voltage bets remain constrained. Our IGBT remain constrained. Silicon carbide, obviously, we maintain our constraint.
