Reports in India say that Israeli chip company Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE:TSEM) and India’s Tata Semiconductor are the final two companies left out of 12 bidders for the upgrade of the Indian government’s semiconductor lab. As a result Tower’s share price rose 6.3% on Wall Street on Thursday to $45.40, giving a market cap of $5.2 billion. Chip company share prices rose on Wall Street last Thursday, but in the main more moderately.
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Since its low-point in April, Tower’s share price has risen 56.5%, although it still has not returned to its peak at the start of the year. Tower is managed by CEO Russell Ellwanger.
The project to upgrade the semiconductor lab is worth hundreds of millions of dollars. Several months ago Tower pulled out of plans to build an Indian chip plant with its local partner Adani Group.
Published by Globes, Israel business news – en.globes.co.il – on July 6, 2025.
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