Tesla supplier STMicroelectronics said that chip sales are picking up.

Infineon's fourth-quarter sales revenue increased as customers sought chips for personal electronic products, communication devices, computer peripherals, and industrial machinery. However, the demand for semiconductors in the automotive industry continues to struggle in rebounding. The European chip manufacturer reported sales revenue of $3.33 billion, showing a 0.2% year-on-year growth after several months of decline, surpassing analysts' forecast of $3.28 billion provided by Visible Alpha. Despite the improvement, CEO Jean-Marc Chery stated that the demand from the automotive industry is still below expectations. For the current quarter, the company expects revenue of around $3.04 billion, up from $2.52 billion in the same period last year. The company's fourth-quarter profit of $341 million from the previous year turned into a net loss of $30 million. Gross profit decreased from $1.25 billion to $1.17 billion, with a gross margin of 35.2%. According to Visible Alpha's data, analysts had previously predicted a net profit of $2.332 billion and a gross profit of $1.15 billion.