STMicro targets more than $3 billion in space chip revenue as demand grows

STMicroelectronics is targeting well above $3 billion in cumulative revenue for its semiconductor space business from 2026 to 2028, it said on Monday, ‌helped by ⁠surging demand ⁠for chips used in low-Earth orbit satellite networks.

Shares in the Franco-Italian chipmaker rose by as much as 7%, before settling 2.2% higher at 1536 GMT.

STMicro said its LEO revenue rose to about $600 million in 2025 from about $175 million in 2021, and it is now close to $1 billion in 2026.