Updated

Analog Devices announced a $1.35 billion investment aimed at developing chips designed to let machines process information more autonomously, according to new reporting. The move underscores continued heavy capital spending across the semiconductor industry to capture demand tied to artificial intelligence applications. The investment adds ADI to a growing list of chipmakers expanding capacity and R&D budgets to compete for AI-related business, as the industry continues to see AI infrastructure spending as a key growth driver.