Tower (TSEM) has released an update.
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Tower Semiconductor reported a 6% increase in revenue for the third quarter of 2024, reaching $371 million and plans a $350 million investment to expand its SiPho and SiGe capacity to meet growing customer demand. The company anticipates continued growth, with revenue for the fourth quarter expected to reach $387 million. This strategic expansion aims to bolster Tower’s position in the AI-driven data center market.
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