Infineon Looks to AI for Growth as Auto Demand Slump Drags On

Infineon Technologies AG said it will ramp up its investment in technology for artificial intelligence, working to diversify its business in a prolonged slump in auto and industrial chip demand.

The German chipmaker, which makes semiconductors used to power data centers, said it will raise investment to about €2.7 billion ($3.2 billion) in the current fiscal year, up from a previously projected €2.2 billion, according to a statement on Wednesday.