Cabinet members (L-R) German Minister for Research, Technology and Aerospace Dorothee Baer, German Minister for Labour and Social Affairs Baerbel Bas and German Interior Minister Alexander Dobrindt as well as Chief of Staff and Minister for Special Tasks Thorsten Frei (R) applaud as German Finance Minister and Vice Chancellor Lars Klingbeil (3rd R) hands over a bouquet of flowers to German Chancellor Friedrich Merz (2nd R) for his 70th birthday at the start of the weekly cabinet meeting at the Chancellery in Berlin on November 12, 2025. (Photo by Tobias SCHWARZ / AFP) (Photo by TOBIAS SCHWARZ/AFP via Getty Images)

The headquarters of German chip maker Infineon is pictured prior to the company's annual press conference in Munich, southern Germany, on November 12, 2025. (Photo by Michaela STACHE / AFP) (Photo by MICHAELA STACHE/AFP via Getty Images)

The headquarters of German chip maker Infineon is pictured prior to the company's annual press conference in Munich, southern Germany, on November 12, 2025. (Photo by Michaela STACHE / AFP) (Photo by MICHAELA STACHE/AFP via Getty Images)

The Infineon logo is seen on a wafer during the annual press conference of Infineon at the company's headquarters in Munich, southern Germany, on November 12, 2025. (Photo by Michaela STACHE / AFP) (Photo by MICHAELA STACHE/AFP via Getty Images)

The headquarters of German chip maker Infineon is pictured prior to the company's annual press conference in Munich, southern Germany, on November 12, 2025. (Photo by Michaela STACHE / AFP) (Photo by MICHAELA STACHE/AFP via Getty Images)

Members of the Management Board of Infineon pose for photos prior to their company's annual press conference at Infineon's headquarters in Munich, southern Germany, on November 12, 2025 (L-R): Chief Operations Officer Alexander Gorski, Chief Financial Officer Sven Schneider, Chief Executive Officer Jochen Hanebeck, Chief Digital and Sustainability Officer Elke Reichart and Chief Marketing Officer Andreas Urschitz. (Photo by Michaela STACHE / AFP) (Photo by MICHAELA STACHE/AFP via Getty Images)

The Infineon logo is seen on a wafer during the annual press conference of Infineon at the company's headquarters in Munich, southern Germany, on November 12, 2025. (Photo by Michaela STACHE / AFP) (Photo by MICHAELA STACHE/AFP via Getty Images)

Jochen Hanebeck, CEO of Infineon Technologies, is seen on a camera screen as he speaks during his company's annual press conference at Infineon's headquarters in Munich, southern Germany, on November 12, 2025. (Photo by Michaela STACHE / AFP) (Photo by MICHAELA STACHE/AFP via Getty Images)