Experiences in India say that Israeli chip firm Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE:TSEM) and India’s Tata Semiconductor are the ultimate two firms not noted of 12 bidders for the improve of the Indian authorities’s semiconductor lab. In consequence Tower’s share worth rose 6.3% on Wall Avenue on Thursday to $45.40, giving a market cap of $5.2 billion. Chip firm share costs rose on Wall Avenue final Thursday, however in the principle 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 first of the yr. Tower is managed by CEO Russell Ellwanger.
The challenge to improve the semiconductor lab is price lots of of thousands and thousands of {dollars}. A number of months in the past Tower pulled out of plans to construct an Indian chip plant with its native companion Adani Group.
Printed by Globes, Israel enterprise information – en.globes.co.il – on July 6, 2025.
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