(RTTNews) - Chipmaker STMicroelectronics N.V. (STM) announced Tuesday that it has raised revenue outlook for Data Centers in the year 2026 and 2027, citing continued strong demand for AI infrastructure.
In the overnight trading, the shares wre gaining around 2.29%, at $70.60.
For fiscal 2026, data center revenues are now expected at about $1 billion, compared to previous view of nicely above $500 million.
Assuming the current dynamic continues and with the current engagements, revenues could double in 2027, compared to previous expectation of well above $1 billion.
The company said it upgraded the outlook in light of continued strong AI infrastructure-led demand and based on recent progress made on capacity ramp-up.
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