PARIS (Reuters) -French-Italian chipmaker STMicroelectronics plans to double its investments this year to up to $3.6 billion, buoyed by high demand that drove its earnings to beat expectations in the fourth quarter, sending its shares up.
The step up in spending stems from a global chip shortage that has hit manufacturers and fuelled inflation for semi-conductors, which range from low-added value chips in washing machines to sophisticated sensors in cars and smartphones.
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