Shares of onsemi (NASDAQ:ON) surged 9.9% as positive sentiment spread through the semiconductor industry following a partnership announcement between Broadcom and OpenAI. The collaboration sparked optimism about the demand for AI hardware, easing investor fears and boosting chip stocks. onsemi closed at $50.09, up 9.6% from the previous close. The market views the news as significant but not game-changing. However, recent trade tensions between the U.S. and China, including threats of tariffs and export controls, have created uncertainty for the semiconductor sector, leading to a broad sell-off. onsemi is down 18.8% YTD, trading 32.9% below its 52-week high.

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