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STMicro lifts data centre revenue goals on AI demand, shares hit 25-year high
STMicro lifts data centre revenue goals on AI demand, shares hit 25-year high June 2 : STMicroelectronics raised the 2026 and 2027 revenue targets for its data centre business on Tuesday, citing continued strong demand tied to AI infrastructure and progress in expanding capacity. The Franco-Italian chipmaker's shares rose as much as 10 per cent to €65.21 per share, their highest since September 2000. They were up 8.4 per cent as of 0738 GMT, among top gainers on Europe's benchmark STOXX 600...
STMicroelectronics raises data centre revenue target on AI demand
STMicroelectronics raises data centre revenue target on AI demand June 2 : STMicroelectronics raised the revenue target for its data centre business on Tuesday, citing continued strong demand tied to AI infrastructure and progress in expanding capacity. The Franco-Italian chipmaker now expects data centre revenue of about $1 billion in 2026, compared with its previous forecast for revenue "nicely above" $500 million. "Assuming the current dynamic continues and with the current engagements we...