On Semi Reports Q2 Earnings, Expects 2x AI Data Center Revenue in 2026 - ON Semiconductor (NASDAQ:ON)

On Semiconductor (NASDAQ: ON) reported strong Q2 earnings, beating analyst estimates for both earnings per share and revenue. The company expects its AI data center revenue to more than double in 2026, driven by strengthening demand and increased adoption of its power solutions. Following the report, ON Semiconductor stock saw a 5.35% increase in extended trading.