STMicroelectronics’ shares fell as much as 16 % after its third‑quarter sales forecast missed analysts’ expectations, as investors grew wary of the AI rally’s durability. The Franco‑Italian group, one of Europe’s largest chipmakers and a supplier to Space X, said it expected third‑quarter revenues of $3.7bn, up 16 % from a year ago but below consensus estimates of $3.76bn. Shares had doubled since the start of the year, buoyed by growth in AI data‑centre construction and expansion beyond traditional consumer electronics, automotive and industrial customers. Citigroup analysts warned that without renewed momentum, shares could struggle in the near‑term.

The drop comes amid growing anxiety over the scale of AI bets, highlighted by Google’s first quarterly cash burn of $5.9bn and a $15 bn capex rosto. Tram. automóvil

Nonetheless, STMicro has reiterated strong demand from the AI sector, forecasting data‑centre revenues to exceed $1bn this year and surpass $2bn by 2027. The company recently signed a deal with Amazon Web Services to supply chips for high‑bandwidth connectivity, positioning it at the centre of the AI revolution, CEO Jean‑Marc Chery said.

The company’s net revenues of $3.49bn for the June quarter were slightly ahead of analyst estimates and up 26 % YoY, while net income rose to $222m from a $97m loss a year earlier.