Tower Semiconductor Ltd (NASDAQ:TSEM) shares are up during Monday's premarket session.
The company announced a multi-year agreement for the supply of Indium Phosphide (InP) epiwafers with IQE plc.
This partnership aims to enhance Tower's capabilities in next-generation optical technologies, which are critical for AI-driven data center infrastructure.
InP Epiwafer Supply Deal The agreement with IQE includes a minimum purchase commitment from Tower in the first year and reciprocal supply commitments.
This will reinforce Tower's position in the silicon photonics market.
