Tower Semiconductor Ltd is trading 5.7% up at $282.45 after highlighting strong momentum in AI-related photonic integrated circuits (ICs) and securing a strategic supply agreement.
- The company announced the shipment of over 5 million coherent photonic ICs in collaboration with Marvell, specifically designed for AI data-center networks.
- A new multi-year Indium Phosphide (InP) epiwafer supply agreement with IQE reinforces Tower's positioning in silicon photonics and AI infrastructure, driving investor optimism.