STMicro to Invest $2 Billion to Deal With Chip Supply Crisis
- Semiconductor demand gyrations make outlook uncertain
- CEO Chery says ST is facing ‘unprecedented market situation’
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STMicroelectronics NV is ramping up spending on added semiconductor capacity after a supply chain breakdown disrupted the automotive industry and piled pressure on the French-Italian chipmaker to boost output.
The industry has been struggling to meet demand for chips powerful enough to run the latest generation of smartphones and manage an increasingly sophisticated array of functions in cars, after the pandemic and geopolitical tensions disrupted supply chains.