5 days ago
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Reuters
Wed, February 11, 2026 astatine 7:29 AM CST 1 min read
Feb 11 (Reuters) - Israeli declaration chipmaker Tower Semiconductor bushed Wall Street expectations for fourth-quarter nett connected Wednesday, helped by request for its chips for fast information transmission successful artificial quality infrastructure.
U.S.-listed shares were up astir 5% successful premarket trading.
Demand for Tower's silicon photonics technology, which transmits information astatine precocious speeds utilizing light, has made it an important supplier arsenic information halfway operators contention to physique infrastructure capable of handling analyzable AI workloads.
The institution is making an further $270 cardinal concern successful instrumentality for silicon photonics chips, it said connected Wednesday, taking the full spending connected the high-speed exertion to $920 million.
Tower aims to make implicit 5 times as galore of these chips per period by the extremity of 2026 arsenic it shipped successful precocious 2025, CEO Russell Ellwanger said, adding that customers person already agreed to bargain that further volume.
The institution forecast first-quarter gross of $412 million, positive oregon minus 5%, compared with estimates of $408.4 million, according to information compiled by LSEG.
It reported revenue of $440.2 cardinal for the 4th quarter, compared with estimates of $439.8 million.
Adjusted profit for the 4th came successful astatine 78 cents per share, beating estimates of 68 cents per share.
Tower besides makes analog semiconductor wafers for different companies successful the U.S., Israel, Japan and Italy.
(Reporting by Anhata Rooprai successful Bengaluru; Editing by Sahal Muhammed)
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