Chipmaker STMicroelectronics announced on Thursday that it has established a €1 billion ($1.2 billion) credit line with the European Investment Bank (EIB).

STMicroelectronics said on Thursday that it expects sales to rise in the fourth quarter, signaling a sustained recovery after years of weakness across its key markets.

STMicroelectronics (STM, STMPA.PA) announced on Thursday the launch of a new computer chip designed to target the rapidly expanding market for AI datacenter equipment.