Chipmaker Infineon plans 50% investment boost

The company has itself faced problems meeting delivery commitments after a winter storm knocked out a plant in the United States and lockdowns disrupted operations in Malaysia. (The Infineon plant in Kulim, Malaysia. - Filepic)

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.