STMicro

South Korea's tech-heavy Kospi index falls 10%, dragged down by SK Hynix and Samsung; STMicro, ASML, and others fall ~7%, and US tech and chip stocks drop

Global stocks sold off on Tuesday, led by deep losses for tech stocks following a losing session for the sector on Wall Street.

Analysts say AI fervor in the US and Asia has spread to Europe, boosting stocks like STMicro and Nokia, as investors seek the AI boom's picks-and-shovels stocks

Infineon expects data center revenue to grow from ~€1.5B in FY2026 to €2.5B in FY2027, as it and EU peers STMicro and NXP benefit from AI infrastructure demand

Franco-Italian chipmaker STMicro agrees to supply AWS with chips, including for high-bandwidth connectivity and energy-efficient power management; STM jumps 8%+

Italy says it is withdrawing its support for STMicro CEO Jean-Marc Chery and his management team as chip demand slumps; Italy and France own nearly 28%

Bloomberg :

Sources: Italy wants to replace STMicro CEO Jean-Marc Chéry for poor performance, as the Franco-Italian chipmaker struggles to navigate a slump in chip demand

Italy's government wants to replace Jean-Marc Chéry, the man at the helm of Franco-Italian chipmaking joint-venture STMicroelectronics NV, for poor performance.

Franco-Italian chip company STMicro reports Q1 revenue down 18% YoY to $3.47B, below $3.63B est., and expects Q2 sales down 26% YoY to $3.2B, below $3.79B est.

Jillian Deutsch / Bloomberg :

Sources: a planned $3B chip plant in India by ISMC, a consortium that included chipmaker Tower, has stalled due to the company's pending takeover by Intel

A planned $3 billion semiconductor facility in India by chip consortium ISMC that counted Israeli chipmaker Tower as a tech partner … Tweets: @dnystedt , @adityakalra , @reuters , and @adityakalra Twe...