Changes in US stocks | Will invest 3 billion US dollars to strengthen chip manufacturing in Japan Tower Semiconductor (TSEM.US) surged more than 10% at the beginning of the session

The Zhitong Finance App learned that on Tuesday, Tower Semiconductor (TSEM.US) surged more than 10% at the beginning of the session and surged 115% during the year. It is now reported at 254.35 US dollars. According to the news, the company announced on July 14, local time, that it will invest 3 billion US dollars to strengthen chip manufacturing in Japan, including 1 billion US dollars in funding from the Japanese government. The statement said that the first phase will significantly increase the production capacity of 300 mm silicon photonic devices, and it is expected that full production will be put into operation in the fourth quarter of 2027. This phase includes the transformation of the former Fab 6 plant to include 300mm silicon photonic device production capacity and advanced packaging capabilities. The second phase will be launched simultaneously with the first phase, including the construction of a new 300 mm lithography machine manufacturing plant next to the Fab 7 plant.

Additionally, Tower also raised its financial target for 2028, which is expected to reach $3.6 billion in revenue (higher than the market's general forecast of $3.17 billion) and net profit of $1.2 billion.