- STMicroelectronics N.V. (NYSE:STM) will build an integrated Silicon Carbide (SiC) substrate manufacturing facility in Italy.
- The facility will support the increasing demand from ST’s customers for SiC devices across automotive and industrial applications as they transition to electrification.
- Italy will financially support the investment of €730 million over five years and will create around 700 additional direct jobs at full build-out.
- The European Commission approved a €292.5 million ($292 million) grant, Reuters reports.
- Production will likely start in 2023, enabling a balanced supply of SiC substrate between internal and merchant supply.
- The SiC substrate manufacturing facility, built at ST’s Catania site in Italy alongside the existing SiC device manufacturing facility, will be a first-of-a-kind in Europe to produce a volume of 150 million SiC epitaxial substrates, integrating all steps in the production flow.
- ST committed to developing 200 million wafers in the next future.
- Samsung Electronics Co, Ltd (OTC:SSNLF) shared plans to expand its advanced chips production capacity by more than 3X by 2027 to meet strong demand.
- Samsung targets the commercialization of advanced 2-nm technology chips by 2025 and 1.4-nm chips by 2027, set for high-performance computing and artificial intelligence applications.
- Micron Technology, Inc (NASDAQ:MU) looks to invest up to $100 billion over the next 20 years to construct a new mega fab in Clay, New York.
- The new factory will increase the domestic supply of leading-edge memory and create nearly 50,000 New York jobs.
- Price Action: STM shares traded lower by 0.18% at $34.04 in the premarket on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
