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Infineon opens the world’s largest fab for power semiconductors and analog/mixed-signal technologies in Dresden

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–  Investment of 5 billion euros strengthens manufacturing base for highly modern power semiconductors, creating 1,000 jobs in the “Smart Power Fab”
–  Infineon chips enable energy-efficient solutions for automotive and industrial applications such as power supplies for AI data centers, renewable energy sources, power grids and software-defined vehicles
–  Capacity ramp-up at double speed possible to leverage market opportunities effectively and flexibly

DRESDEN, Germany, July 2, 2026 /PRNewswire/ — Infineon Technologies AG (FSE: IFX) (OTCQX: IFNNY) opened the Smart Power Fab in Dresden several months ahead of schedule. The new plant, with an investment volume of five billion euros, is the largest single investment in Infineon’s history and one of the largest investment projects in Germany, creating 1,000 new, direct jobs. The new fab doubles Infineon’s manufacturing capacities at the Dresden site, thus creating the world’s largest factory for intelligent power semiconductors and analog / mixed-signal technologies.

“We’re opening our new plant at just the right time,” says Jochen Hanebeck, CEO of Infineon Technologies AG. “Our Smart Power Fab is creating urgently needed capacities for the key technologies of the future, for everything from energy supply for AI data centers to software-defined vehicles and renewable energies. Infineon is thus giving an important impulse in making the global AI revolution possible and securing supply chains in critical industries. By taking this step, we are strengthening our global vanguard position as a leading manufacturer of power semiconductors and analog / mixed-signal technologies.”

“Infineon’s new Smart Power Fab sends out a powerful message about Germany and Europe as a center of industry,” says German Federal Chancellor Friedrich Merz. “This investment shows that competitive, cutting-edge semiconductor production in our country is possible. Power semiconductors are a key technology for the energy transition, the future of mobility and our AI infrastructure – meaning they are crucial to make our economy fit for the future. The expansion of Infineon’s production capacity in Dresden also strengthens our technological sovereignty and the resilience of important supply chains in Europe.”

Dr. Karsten Wildberger, German Federal Minister for Digital Transformation and Government Modernization, says: “What is being produced here in Dresden secures jobs and creates value in Germany, because these cutting-edge chips are at the heart of key technologies such as electric vehicles, wind turbines, and the power infrastructure for AI data centers. The Smart Power Fab marks another milestone on Germany’s path toward digital sovereignty and demonstrates that Germany can move fast, Germany can deliver high-tech innovation, and Germany can shape the future.”

Saxony’s Minister-President Michael Kretschmer says: “Microelectronics is the key technology of the 21st century, the foundation of innovation, competitive strength and economic progress. The choice of Dresden, home to Europe’s largest microelectronics cluster, represents a decisive location advantage. Infineon’s new Smart Power Fab makes this unique ecosystem stronger and shows that major industrial projects can be implemented securely and swiftly with the right basic prerequisites. This sends a strong signal about Dresden as an industrial location and about the future of microelectronics in Europe.”

The new Smart Power Fab uses rigorous digitalization to accelerate production to twice as fast as in the past, depending on demand. For example, the building itself and the ideal machine layout were pre-planned and optimized using a digital twin. System and process clearance is supported by AI algorithms. Furthermore, the connection to the Infineon plant in Villach as “One Virtual Fab” makes qualification of processes and products significantly faster than in the past. The increased ramp-up speed lets Infineon effectively and flexibly leverage current market opportunities, including in the field of AI.

In the future, chips made in Dresden will contribute to the efficient supply of power to AI data centers, among other things. The chips are also used in other industrial and automotive applications, such as wind and solar power systems and software- defined vehicles. One example is intelligent switches that not only control loads but also monitor the flow of electricity. The interaction between power semiconductors and analog / mixed-signal components enables especially energy-efficient and intelligent system solutions, hence the “Smart Power Fab” name.

With the expansion, Infineon Dresden is further strengthening its position as a worldwide leading site for power semiconductors and analog / mixed-signal technologies; at the same time, it is also bolstering the European leadership role in the overall semiconductor cluster “Silicon Saxony” in and around Dresden. Infineon is creating a total of 1,000 new jobs in Dresden with the Smart Power Fab. In addition, the Smart Power Fab will have positive effects on the economic development of the region and on the job situation in the supplier environment and ecosystem: Studies have shown that one cleanroom job creates six additional jobs in adjacent areas. Today over 80,000 people are already employed in the “Silicon Saxony” cluster.

Infineon’s Smart Power Fab is also setting new standards in sustainable manufacturing. Modern production technologies and optimized energy and resource processes help reduce energy consumption and further improve the environmental footprint of chip production. The new manufacturing system requires no natural gas and cuts water consumption with water treatment and the implementation of closed-loop water systems. Approximately 90 percent of the water used is to be reintroduced in the circulation, making it possible to recover as much as 45 percent of the energy used.

– Picture is available at AP –

About Infineon

Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The Company had around 57,000 employees worldwide (end of September 2025) and generated revenue of about €14.7 billion in the 2025 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).

Contact:
Franziska Hofmeister (Headquarters)
+49 89 234 22162
franziska.hofmeister@infineon.com

Investor Relations:
+49 89 234 26655
investor.relations@infineon.com

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SOURCE Infineon Technologies AG

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China’s Long March: The Journey Goes On

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MACAO, Oct. 21, 2026 /PRNewswire/ — This is a report from Xinhua News Agency:

There is a chapter of history every Chinese child learns in school.

There is a poem that generations of Chinese people have learned by heart.

There is a song millions can sing from its very first notes.

In stories, in verses, in melodies, they all point to the same chapter of history: the Long March.

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SOURCE Xinhua News Agency

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Target Makes it Easier for Guests to Discover Stylish Holiday Gifts They Can’t Wait to Give

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Target is offering more than 8,000 new gifts, with more than half exclusive to the retailerMost new holiday items at Target are $20 or less, including thousands $5 and underNew AI-powered shopping experiences, daily deals and early Black Friday savings simplify gifting

MINNEAPOLIS, Oct 21, 2026 /PRNewswire/ — Target Corporation (NYSE: TGT) is putting gifting at the heart of the holidays, bringing guests more than 8,000 new stylish gifts they can’t wait to give. More than half of the new assortment is available only at Target, with thousands of gifts priced at $5 and under. New AI-powered shopping experiences, fresh ways to discover gifts and deals throughout the season will make it easier for guests to find something special for everyone on the list.

“This holiday season, guests will see and feel the changes we’ve been making across Target, bringing together the style, design and value they expect from us with an experience that makes shopping easier and more inspiring,” said Michael Fiddelke, chief executive officer, Target. “We know guests turn to Target for gifting, gathering and everything in between, and our team is ready to help busy families discover more joy in those moments throughout the season.”

Stylish gifts at an incredible value
As consumers continue to look for affordable ways to give gifts that feel special, Target is leaning into one of the season’s biggest trends: luxe-for-less gifting. This year’s assortment includes 100% cashmere (excluding functional trim) starting at $25, pajamas for all from $10, festive decor from $5, faux fur throws at $30, top toys from LEGO, Barbie and Nintendo, new and exclusive gifts from prestige, emerging and global beauty brands at Target Beauty Studio, nostalgic sweet treats and host gifts from Favorite Day and exclusive finds for sports and wellness fans, making it easy for guests to find gifts that feel elevated at every price point.

“Guests tell us they want to give gifts that are thoughtful and personal, while feeling good about what they’re spending,” said Cara Sylvester, executive vice president and chief merchandising officer, Target. “That’s why we’ve brought together the brands they love, exciting trends and unexpected finds they won’t see anywhere else — all at prices that make it easier to get that ‘I can’t wait to give this’ gift.”

More ways to discover the perfect gift
New this season, Ask Target, an AI-powered shopping assistant available in beta on Target.com and the Target app, helps guests find inspiration, narrow their choices and shop with confidence and ease. Additional AI-powered features and a digital holiday kids catalog offer more ways to discover gifts for everyone on the list.

Target’s new Academy of Giftology holiday marketing campaign, launching in November, will tackle familiar gifting dilemmas with playful inspiration to help guests gift it their all and find gifts they’ll be excited to give.

More ways to save, from the first gift to the last
Beginning Nov. 1, guests can shop a new Deal of the Day every day through Dec. 24, with a first-ever one-day preview of upcoming offers to help them plan ahead. Early Black Friday deals run Nov. 5–7, followed by new limited-time offers every weekend throughout the holiday season.

The joy of gift giving
Through Target’s partnership with St. Jude Children’s Research Hospital, guests can give a gift that helps give back with the Gigglescape St. Jude bear, with a donation tied to each purchase while supplies last.

About Target
Target Corporation (NYSE: TGT) brings together style, design and value to offer a distinct assortment and elevated shopping experience across more than 2,000 U.S. stores and online. Powered by more than 400,000 team members, Target serves millions of families each week and invests in the communities where they live and work to support growth and opportunity for all.

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SOURCE Target Corporation

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illumend CEO: Building a COI Tracker with AI Is Easy. Verifying Insurance Compliance Is Not.

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Kristen Nunery warns that homegrown Certificate of Insurance tracking tools can create a false sense of security when businesses mistake collecting insurance documents for verifying coverage and compliance

INDIANAPOLIS, Oct. 21, 2026 /PRNewswire/ — As general-purpose artificial intelligence (AI) makes it easier for businesses to build their own software, Kristen Nunery, founder and CEO of illumend, is warning construction and property management companies against a costly misconception: that building a Certificate of Insurance (COI) tracking system is the same as verifying that contractors and other third parties have the insurance coverage their contracts require.

In her new article, “You Can Build a COI Tracker with AI. That Doesn’t Mean You Should,” Nunery explains that general-purpose AI tools such as ChatGPT can help businesses create applications that collect certificates, track expiration dates, and automate reminders. But those capabilities address only part of the insurance compliance process. Determining whether coverage satisfies contractual requirements involves interpreting insurance documents, reviewing endorsements, identifying exclusions and resolving discrepancies that basic tracking software may overlook.

“AI has democratized the ability to build software. It hasn’t democratized the expertise to make the right insurance decision,” said Nunery, who has spent 16 years in insurance compliance. “If you don’t have a compliance process today, you’re not automating a process. You’re automating your best guess.”

Why a COI Tracker Is Not an Insurance Compliance Verification System

According to Nunery, the critical distinction is between tracking the existence and expiration of insurance documents and verifying whether the underlying coverage meets contractual obligations.

A homegrown COI tracker may confirm that a certificate is current, record policy limits, and flag missing documents. But a current certificate does not necessarily mean a contractor is adequately insured or compliant with an agreement’s terms.

For example, a subcontractor may submit a certificate showing sufficient general liability limits and additional insured status. Yet the underlying endorsement may be a CG 20 10 covering ongoing operations only, while the contract also requires completed-operations coverage under a CG 20 37 or equivalent endorsement. A basic tracker could mark the subcontractor as compliant despite the missing coverage.

“The tracker didn’t misread anything,” Nunery said. “It never had the contract requirement, the endorsement language, or the connection between the two.”

Other potential gaps include incorrectly named insured entities, missing endorsements, inadequate completed-operations coverage, and policy provisions that fail to satisfy contractual insurance requirements. Identifying these issues requires evaluating insurance evidence in context, not simply extracting data from a certificate.

Why Insurance Compliance Verification Requires Specialized Technology

Nunery argues that businesses seeking to move beyond basic COI tracking need technology designed specifically for insurance compliance verification, with insurance expertise embedded in how the system evaluates coverage.

Unlike homegrown tracking tools, specialized compliance platforms such as illumend compare insurance documents against established contractual requirements, examine supporting endorsements, identify coverage gaps, and explain findings that require attention.

This approach powers Lumie, illumend’s specialized AI-powered insurance compliance expert. Lumie reviews certificates and endorsements against established requirements, flags potential deficiencies and provides supporting evidence for its determinations, while allowing compliance professionals to review and resolve exceptions.

“AI should do more than flag a problem. It should show you what it found, which requirement it evaluated, and the evidence behind its assessment,” Nunery said. “Lumie applies insurance expertise at scale and creates a clear record of its findings, so teams can act on routine determinations efficiently and focus their attention on exceptions that need a closer look.”

Nunery’s perspective draws on her experience building myCOI, whose technology has reviewed more than 45 million insurance documents and identified more than 2 million coverage gaps before they became claims, according to company figures.

Build a COI Tracker or Buy a Compliance Platform? The Questions Businesses Should Ask

For organizations considering building their own COI software, Nunery recommends first determining whether they need a document-tracking application or a comprehensive insurance compliance verification system.

Basic tracking needs may be addressed with spreadsheets, conventional software, or applications built with general-purpose AI. But verifying compliance requires substantially more: translating contractual insurance requirements into rules, reviewing endorsements and policy evidence, identifying exceptions, documenting decisions, and maintaining an auditable compliance process.

Businesses must also consider who will keep insurance requirements current, validate the system’s determinations, investigate discrepancies, and maintain the records needed to support compliance decisions during claims or audits.

“Building the software happens once,” Nunery said. “Running a compliance system means keeping requirements, evidence, follow-ups, decisions and the audit trail current, every day it’s in use.”

To read Nunery’s full article, visit https://www.illumend.ai/evaluation-buying/build-vs-buy-coi-tracking-software-ai

About illumend
Founded in 2025, illumend™ is the AI-powered platform redefining how businesses manage third-party insurance compliance and risk. Backed by myCOI, the leader in third-party insurance compliance management with more than 16 years of expertise, illumend reimagines compliance by guiding every step of the process—from document review and expiration tracking to risk flagging, communication, and resolution—within one intuitive system. Built on myCOI’s institutional foundation—having processed more than 45 million documents, managed over 1.2 million agreements, cleared more than 750,000 third-party partners, and identified more than two million coverage gaps before claims—illumend brings this depth of compliance intelligence into an AI-native platform. At its core is Lumie, illumend’s conversational AI guide that reads complex insurance documents, flags issues in real time, and explains them in language anyone can act on. To learn more, visit https://www.illumend.ai.

Media contact:
Michael Tebo
Gabriel Marketing Group (for illumend)
Phone: 571-835-8775
Email: michaelt@gabrielmarketing.com

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SOURCE illumend

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