Chipmakers Onsemi and GlobalFoundries rise on partnership

Chipmaker Onsemi's ON.O shares rise 2.6% to $54.69 premarket

GlobalFoundries' GFS.O shares rise 2.8% to $37.27 premarket

ON to develop GaN power devices with GFS; sampling to begin in first half of 2026

GaN (gallium nitride) is a semiconductor component that enables higher power efficiency, faster switching speeds, and greater power density in electronic devices compared to traditional silicon

Up to last close, ON has fallen 15.4% this year; GFS has fallen 15.5% this year