Panasonic plans to expand its AI business, targeting about JPY1.4 tln in AI infrastructure-related sales within three years and announcing roughly JPY500 bln of investment in the business over the next two fiscal years. The company raised planned job cuts to 12,000 (from 10,000) and expects JPY145 bln of savings by FY24. Panasonic’s shares have more than doubled YTD, lifting market value to a record JPY11.5 tln amid demand for AI infrastructure components including server electronic parts, circu

Panasonic plans to expand its AI business, targeting about JPY1.4 tln in AI infrastructure-related sales within three years and announcing roughly JPY500 bln of investment in the business over the next two fiscal years. The company raised planned job cuts to 12,000 (from 10,000) and expects JPY145 bln of savings by FY24. Panasonic’s shares have more than doubled YTD, lifting market value to a record JPY11.5 tln amid demand for AI infrastructure components including server electronic parts, circuit-board materials and batteries; the firm remains a major battery supplier to Tesla.