Stories in India say that Israeli chip firm Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE:TSEM) and India’s Tata Semiconductor are the ultimate two corporations ignored of 12 bidders for the improve of the Indian authorities’s semiconductor lab. Consequently Tower’s share worth rose 6.3% on Wall Road on Thursday to $45.40, giving a market cap of $5.2 billion. Chip firm share costs rose on Wall Road final Thursday, however in the primary extra reasonably.
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Since its low-point in April, Tower’s share worth has risen 56.5%, though it nonetheless has not returned to its peak at the beginning of the yr. Tower is managed by CEO Russell Ellwanger.
The undertaking to improve the semiconductor lab is value a whole bunch of tens of millions of {dollars}. A number of months in the past Tower pulled out of plans to construct an Indian chip plant with its native associate Adani Group.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on July 6, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
