Tower Semiconductor, an Israeli chipmaker, announced it will invest $3 billion to bolster chip manufacturing in Japan, including $1 billion in grants from the Japanese government. This move aims to support growing AI and data center demand.
The expansion will occur in two phases, with the first phase involving converting Tower’s Arai facility in Japan for 300-millimeter silicon photonics production, with full operations expected by the fourth quarter of 2027.
Following this initial capacity expansion, Tower said it expects its 2028 revenue to reach $3.6 billion and net profit to hit $1.2 billion, compared with its previous expectations of $2.8 billion in revenue and $750 million in net profit.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
