STMicro lifts data centre revenue goals on AI demand, shares hit 25-year high

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% ⁠to €65.21 ⁠per share, their highest since September 2000. They were up 8.4% as of 0738 GMT, among top gainers on Europe’s benchmark STOXX 600 index.

STMicro now expects data centre revenue of about $1 billion in 2026, compared with its previous forecast for revenue “nicely above” $500 ⁠million.