SpaceX Supplier STMicroelectronics Forecasts Strong Sales Growth on AI, Satellite Boost -- Updates

STMicroelectronics forecast robust sales growth as data-center build-outs for artificial-intelligence workloads and satellite connectivity deployments drive semiconductor demand. The European chip maker, which lists Apple and Elon Musk’s Tesla and SpaceX among its customers, said 2026 revenue should rise nearly 23% year on year to about $14.5 billion. Its gross margin is expected to improve to around 36.4% from 33.9% last year. After previously holding back detailed annual guidance, it now expects second-quarter sales of roughly $4.15 billion versus $3.33 billion a year earlier, above a Visible Alpha estimate near $4.12 billion. For data centers, it projected 2026 revenue above $1 billion and more than $2 billion in 2027, and it raised AI forecasts twice this year. The company also expects well above $3 billion in space-related equipment revenue between 2026 and 2028, excluding potential benefits from orbital data centers.