0811 GMT - STMicroelectronics' decision to lift its data-center revenue target reflects confidence it can expand capacity to meet high demand for artificial intelligence, Jefferies analysts write in a note to clients. The European chip maker expects data-center revenue of about $1 billion this year compared with a prior forecast of more than $500 million. It also said data-center revenue could double in 2027 if demand stays strong compared with previous guidance of well above $1 billion. STMicroelectronics shares trade 0.3% lower at 68.11 euros. (mauro.orru@wsj.com)
(END) Dow Jones Newswires
June 03, 2026 04:11 ET (08:11 GMT)
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