STMicroelectronics' silicon carbide revenue growth slows in 2024

STMicroelectronics recently announced its first quarter 2024 financial results, with net revenue of $3.47 billion, of which silicon carbide revenue increased by about $150-200 million, a slowdown from the $500 million growth in 2022-2023. The company expects silicon carbide revenue to resume growth in 2025 and reach more than $5 billion in 2030.