Chipmaker Infineon plans 50% hike in investments

FILE PHOTO: The logo of semiconductor manufacturer Infineon is seen in Villach, Austria, June 3, 2018. REUTERS/Lisi Niesner/File Photo

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

In a release issued ahead of an investor day, Infineon said on Tuesday it would invest around 2.4 billion euros ($2.8 billion) in 2022, up from about 1.6 billion euros this year.