Austrian mountain town finds niche in AI boom

Leoben, a traditional Austrian mountain town nestled in the wooded hills of Styria, has found a unique niche in the AI boom. While the town's central square features 13th-century buildings, engineers at AT&S, an electronics company based in Leoben, are developing components used in advanced AI systems. AT&S specializes in creating integrated circuit (IC) substrates, crucial components that connect chips to computer memory and power supplies.

The company's shares have surged over 450 percent this year, making it one of Europe's most striking beneficiaries of the AI boom. AT&S CEO Michael Mertin believes that even though Europe cannot compete with US rivals on chip innovation or Asian firms in production scale, there are still significant technologies where Europe leads.

The Leoben site, known as the Hinterberg plant, serves as the global headquarters and houses research and development operations. With around 2,200 employees from over 70 countries, AT&S is one of the largest employers in the region, contributing to the town's high quality of life and international visibility.