ON Semiconductor is trading 4.3% up at $90.44 as chip stocks recover from last week’s sharp selloff and investors rotate back into AI beneficiaries.
- The stock is regaining ground after facing recent pressure following the announcement of its approximately $7 billion all-stock acquisition of Synaptics.
- The move comes amid a broader semiconductor sector rally fueled by earnings optimism and renewed confidence in sustained demand for AI-related hardware.