🟢 ON Semiconductor is trading 7.2% up today after Q2 earnings beat and strong AI outlook

ON Semiconductor is trading 7.2% up at $86.17 after reporting better-than-expected Q2 2026 results and a robust outlook for AI-driven demand.

• Revenue reached $1.604 billion with non-GAAP EPS of $0.74, both exceeding analyst estimates due to strong demand for AI data-center and power solutions.
• Management expects AI-driven demand to more than double in 2026, supporting margin expansion and bullish sentiment.
• The stock's gains are further supported by a broader rebound across the semiconductor sector.