Infineon AG ($IFX (-1,86 %)) can look forward to a major boost! The EU has approved aid of 920 million euros for the construction of a new chip factory in Dresden. The overall project will cost an impressive 3.5 billion euros and is expected to open in 2024. 🚀
This funding is part of the European Chips Act and is intended to ensure that Infineon contributes to crisis preparedness in the event of a supply shortage. Sounds like a solid strategy, doesn't it?
Infineon shares have already benefited from this news, rising by 2.86% at times to €39.15. What do you think of the outlook for the chip industry? Is now the right time to get in? 💭
And not to forget: The Annual General Meetings of Infineon and Siemens Energy are taking place at the same time - a bit uncoordinated, isn't it? What do you think about this situation?
