🟢 ON is trading 6.5% up today as peer Navitas surges on AI power-semiconductor optimism

ON is trading at $123.81 (+6.5%) in pre-market, extending its recent strength after closing at $116.20 on May 22, 2026.

• The move is driven by positive sector sentiment and renewed enthusiasm for AI infrastructure, highlighted by a sharp pre-market surge in peer Navitas on power-semiconductor hype.
• No company-specific earnings or announcements were reported for ON, suggesting the price action is a momentum-driven trade within the broader semiconductor space.
• Broader markets are in a risk-on mood, with the S&P 500 and Nasdaq both gaining more than 0.5%, further amplifying buying interest in chip stocks.