STMicro to double investments to meet high chip demand

STMicro sign — (STMICRO)

R

By:

Reuters

January 27, 2022 10:22 AM

PARIS -- French-Italian chipmaker STMicroelectronics plans to double its investments this year to up to $3.6 billion, buoyed by high demand that drove its earnings to beat expectations in the fourth quarter.

Featured Stories

New Stellantis CEO Antonio Filosa faces series of hurdles

Filosa’s ability to honestly assess where Stellantis has erred in recent years could prove vital as he works to repair relationships with dealers, suppliers and employees.

New Stellantis CEO Antonio Filosa faces series of hurdles

Trump to double steel tariffs to 50% to aid Nippon-U.S. Steel deal

Trump to double steel tariffs to 50% to aid Nippon-U.S. Steel deal

Automakers warn shortage of rare-earth magnets from China threatens U.S. light-vehicle output

Automakers warn shortage of rare-earth magnets from China threatens U.S. light-vehicle output

Finance Insurance

FTC seeks to drop one count against Asbury after Trump executive order on disparate impact

FTC seeks to drop one count against Asbury after Trump executive order on disparate impact

Latest News

Donald Trump revokes EV policies with speed - and uncertain legal standing

Read the Automotive News Digital Edition for June 2

Trump to double steel tariffs to 50% to aid Nippon-U.S. Steel deal

Automakers warn shortage of rare-earth magnets from China threatens U.S. light-vehicle output

Staying current is easy with newsletters delivered straight to your inbox.

See More in Suppliers

Congress Conversations: Live talk on evolving tariff policy and auto supply chains, noon EDT June 3

Automakers must switch to SDVs to survive, WirelessCar CEO Niklas Floren says

Marelli chases ‘China Speed’ with plan to slash 3-year product cycle to one

Daily 5 report for May 27: Lessons learned from KKR’s merger of two troubled auto suppliers

Staying current is easy with newsletters delivered straight to your inbox.