According to an Indian report, an Israeli chip company says Tower Semiconductor Ltd. (Nasdaq: tsem; Tase:tsem) And India’s TATA Semiconductors are the last two companies left by 12 bidders for upgrades to the Indian government’s semiconductor research lab. As a result, Tower’s stock price rose 6.3% on Wall Street on Thursday to $45.40, bringing its market capitalization to $5.2 billion. The chip company’s stock price rose on Wall Street last Thursday, but more moderately predominantly.
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Tower’s stock has risen 56.5% since its low point in April, but has not yet returned to its peak at the beginning of this year. The tower is managed by CEO Russell Erwanger.
Projects that upgrade semiconductor labs are worth hundreds of millions of dollars. A few months ago, Tower broke out of plans to build an Indian chip factory with local partner Adani Group.
Published by Globes, Israel Business News – En.globes.co.il – July 6, 2025.
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