STMicroelectronics NV's stock fell over 14% after the company projected third-quarter sales of approximately $3.7 billion, which is below analysts' expectations of $3.79 billion. Despite a year-over-year revenue growth forecast of around 16%, the outlook has raised concerns about the company's recovery amid increasing demand for artificial intelligence-related products.
STMicroelectronics NV forecast growing revenue in the current quarter as demand from artificial intelligence data centers bolsters the chipmaker’s business.