ON Semiconductor's CEO Says AI Demand Got Priority Over Automotive Customers— and Wall Street Loved It as Stock Jumps 7% in Premarket Tuesday
ON Semiconductor put AI data centers ahead of automotive and industrial customers as AI infrastructure demand accelerated.
ON Semiconductor decided to make computer brain chips for AI companies instead of cars, because AI companies wanted them more urgently. The stock jumped up because investors think this shows the company is smart about chasing the biggest opportunity right now.
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