Israeli contract chipmaker Tower Semiconductor forecast its fourth-quarter revenue above estimates on Wednesday, driven by a recovery in demand for its chips, and said it plans to invest $350 million to expand capacities. The U.S.-listed shares of the company were up 7.5 per cent in premarket trading. The company said the investment will expand capacities for its silicon photonics, used in autonomous vehicles, and silicon germanium, used in wireless communication and high-performance computing