STMicroelectronics forecasts higher Q4 revenue on AI chip demand

What happened: STMicroelectronics forecast higher fourth-quarter revenue after third-quarter sales and margins recovered more strongly than expected, supported by improving demand and growth in AI infrastructure. Key numbers: Q3 revenue $3.76 billion, up 17.9% year over year Why it matters: Chief Executive Jean-Marc Chery cited stronger bookings and improving demand visibility, with distribution inventories below the company's standard target. The company cited a cyclical recovery across end markets and growth opportunities in AI data centres and low-Earth-orbit satellite communications. Coverage: 3 outlets in 24h

STMicroelectronics forecast higher fourth-quarter revenue after third-quarter sales and margins recovered more strongly than expected, supported by improving demand and growth in AI infrastructure.

Chief Executive Jean-Marc Chery cited stronger bookings and improving demand visibility, with distribution inventories below the company's standard target. The company cited a cyclical recovery across end markets and growth opportunities in AI data centres and low-Earth-orbit satellite communications.