Technology: Chip manufacturer Infineon expects massive increase in AI sales
The Munich-based technology group expects a surge in growth in the new financial year. It also wants to become significantly more profitable. Shareholders benefit from the upswing.
Infineon, Europe's largest chip manufacturer, is expecting a new sales record, forecasting revenues of 20 billion euros for the current financial year, a 20% increase from the previous year. The company, listed on the German Dax index, aims for an operating margin of around 25%. The growth is driven by massive investments in data centers, primarily for Artificial Intelligence (AI), with chip sales for powering these centers expected to rise to 4 billion euros from 2.2 billion euros in the previous year.
Infineon's CEO, Jochen Hanebek, noted that customers are securing multi-year supply contracts, with over 10 billion euros in agreements already in place.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
