STMicroelectronics says it is lifting its data centre revenue outlook, citing stronger demand tied to artificial intelligence (AI). Multiple outlets report that the company updated its revenue targets for the data centre market, pointing to continued momentum in AI-related applications that use semiconductors. Following the announcement, STMicroelectronics shares rise sharply, with one report describing the stock move as reaching a multi-decade high. The updates come as companies across the semiconductor sector see increased orders and investment linked to AI compute infrastructure. While the reports focus on the raised outlook and the market reaction, they also imply that the company’s performance is increasingly linked to products used in data centre deployments. The changes to the company’s guidance reflect management’s view of expected demand over the relevant period covered by the target, rather than a change in a single-quarter result. Overall, the coverage converges on the same theme: improved expectations for data centre revenue driven by AI demand, followed by a strong immediate reaction in the shares.