ON Semiconductor has reported a significant increase in both profit and revenue for its second quarter, largely attributed to the growth of its AI data center business. The chipmaker announced a net income of $226.8 million, a notable rise from the $170.3 million recorded in the same period last year. This translates to earnings per share of 56 cents, up from 41 cents a year prior.

Excluding certain one-time items, the company's adjusted earnings per share reached 74 cents, surpassing the 71 cents anticipated by analysts polled by Fact Set. Revenue also saw a healthy increase, climbing 9% to reach $1.6 billion, slightly exceeding the $1.59 billion expected by analysts.

The strong performance underscores the increasing demand for ON Semiconductor's products within the burgeoning AI data center sector, signaling a positive trajectory for the company.