Chipmaker Infineon plans 50% investment boost

BERLIN: German chipmaker Infineon Technologies said on Tuesday it plans a 50% hike in investments next year, boosting its shares as it looks to benefit from soaring demand and a global shortage in semiconductors.

Infineon said it would invest around 2.4 billion euros ($2.8 billion) in 2022, up from about 1.6 billion euros this year.

“We are initially investing in existing plants,” finance chief Sven Schneider told Reuters. He said Infineon was considering whether it needed to add more capacity, but added it was too early to decide on that yet.