ON Semiconductor Surges 5%... Market Cap Exceeds $20 Billion on Power Semiconductor Momentum

ON Semiconductor (Nasdaq: ON), a U.S. power semiconductor company, closed today on the Nasdaq at $63.35 per share, up 5.78%.
In a single day, its market capitalization rose by about $1.5 billion (roughly KRW 2.1 trillion), bringing the total to around $25 billion (approximately KRW 33.7 trillion).

Recently, the company entered into an alliance with Chinese GaN power device maker Innoscience to jointly develop gallium nitride (GaN) power semiconductors and expand mass production, broadening its power semiconductor portfolio to include silicon, silicon carbide (SiC) and GaN.

Headquartered in Scottsdale, Arizona, ON Semiconductor is a U.S. supplier known for its strengths in automotive and industrial power semiconductors as well as image sensors.

In response to growing demand for high-efficiency power semiconductors in electric vehicles and renewable energy applications, the company is significantly expanding its SiC production capacity in Bucheon, South Korea, and in New Hampshire, USA, positioning itself as a key beneficiary of the global energy transition.