An Intermediate Bus Converter (IBC), designed for AI Server architectures, is pictured before the opening ceremony of the new Smart Power Fab of German semiconductor manufacturer Infineon Technologies AG in Dresden, eastern Germany, on July 2, 2026. With an investment of five billion euros, the new facility represents the largest single investment in Infineon's history. (Photo by Ronny HARTMANN / AFP via Getty Images)

A 300mm wafer is pictured before the opening ceremony of the new Smart Power Fab of German semiconductor manufacturer Infineon Technologies AG in Dresden, eastern Germany, on July 2, 2026. With an investment of five billion euros, the new facility represents the largest single investment in Infineon's history. (Photo by Ronny HARTMANN / AFP via Getty Images)

The logo of German semiconductor manufacturer Infineon Technologies AG is seen at the company's plant in Dresden, eastern Germany, on July 2, 2026, prior to the official inauguration of the company's "Smart Power Fab". With an investment of five billion euros, the new facility represents the largest single investment in Infineon's history. (Photo by Ronny HARTMANN / AFP via Getty Images)

The logo of German semiconductor manufacturer Infineon Technologies AG is seen at the company's plant in Dresden, eastern Germany, on July 2, 2026, prior to the official inauguration of the company's "Smart Power Fab". With an investment of five billion euros, the new facility represents the largest single investment in Infineon's history. (Photo by Ronny HARTMANN / AFP via Getty Images)

German Chancellor Friedrich Merz looks on during a press conference, on July 2, 2026 in the garden of the Chancellery in Berlin, one day after the coalition committee consultations on a major package of reforms. Germany's ruling coalition has agreed on sweeping reforms, the German Chancellor, a breakthrough aimed at reviving the struggling economy and countering the rise of the far right. (Photo by Tobias SCHWARZ / AFP via Getty Images)

German Chancellor Friedrich Merz looks on during a press conference, on July 2, 2026 in the garden of the Chancellery in Berlin, one day after the coalition committee consultations on a major package of reforms. Germany's ruling coalition has agreed on sweeping reforms, the German Chancellor, a breakthrough aimed at reviving the struggling economy and countering the rise of the far right. (Photo by Tobias SCHWARZ / AFP via Getty Images)

Bavaria's State Premier and leader of the conservative Christian Social Union (CSU) Markus Soeder looks on during a press conference, on July 2, 2026 in the garden of the Chancellery in Berlin, one day after the coalition committee consultations on a major package of reforms. Germany's ruling coalition has agreed on sweeping reforms, the German Chancellor, a breakthrough aimed at reviving the struggling economy and countering the rise of the far right. (Photo by Tobias SCHWARZ / AFP via Getty Images)

(L-R) Bavaria's State Premier and leader of the conservative Christian Social Union (CSU) Markus Soeder, German Chancellor Friedrich Merz (CDU), German Minister for Labour and Social Affairs Baerbel Bas (SPD) and German Finance Minister and Vice Chancellor Lars Klingbeil (SPD) address a press conference, on July 2, 2026 in the garden of the Chancellery in Berlin, one day after their coalition committee consultations on a major package of reforms. Germany's ruling coalition has agreed on sweeping reforms, Chancellor Friedrich Merz said, a breakthrough aimed at reviving the struggling economy and countering the rise of the far right. (Photo by Tobias SCHWARZ / AFP via Getty Images)