Tower Semiconductor Climbs on Silicon Photonics Expansion Deal

Tower Semiconductor Ltd (NASDAQ: TSEM ) shares are up during Monday’s premarket session. The company announced a multi-year agreement for the supply of Indium Phosphide (InP) epiwafers with IQE plc . This partnership aims to enhance Tower’s capabilities in next-generation optical technologies, which are critical for AI-driven data center infrastructure. InP Epiwafer Supply Deal The agreement with IQE includes a minimum purchase commitment from Tower in the first year and reciprocal supply commitments. This will reinforce Tower’s position in the silicon photonics market. This collaboration is expected to support the production of advanced optical connectivity solutions, crucial for scaling AI infrastructure. data-variant="banner" data-news-mode="manual" > Read Also: Tower Semiconductor Analysts Boost Their Forecasts Following Better-Than-Expected Q1 Earnings TSEM Earnings Preview And Analyst Price Forecasts Tower Semiconductor Ltd is slated to provide its next financial update ... Full story available on Benzinga.com