Tower Semiconductor beats quarterly profit estimates on AI-driven chip demand
Mădălin Mihai
Feb 11 : Israeli contract chipmaker Tower Semiconductor beat Wall Street expectations for fourth-quarter profit on Wednesday, helped by demand for its chips for fast data transmission in artificial intelligence infrastructure. U.S.-listed shares were up nearly 5 per cent in premarket trading. Demand for Tower's silicon photonics technology, which transmits data at high speeds using light, has made it an important supplier as data center operators race to build infrastructure capable of handling
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