Driven by the Artificial Intelligence (AI) fervor, semiconductor foundry utilization rates are recovering worldwide. Industry sources in South Korea say that the average global semiconductor foundry utilization rate has recently reached around 75%, and they are optimistic that the average utilization rate will exceed 80% in the second half of 2024.

According to Intel’s press release, the chip giant and Apollo signed a definitive agreement under which Apollo-managed funds and affiliates will lead an investment of US$11 billion to acquire from Intel a 49% equity interest in a joint venture entity related to Intel’s Fab 34.

STMicroelectronics (ST) and Geely have announced a multi-year agreement for the supply of Silicon Carbide (SiC) devices and the establishment of a joint lab to collaborate on vehicle electrification and digitalization. This deal comes as China emerges as a major EV market that component suppliers cannot afford to ignore, with automakers increasingly forming direct relationships with these suppliers.