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Tower Semiconductor’s AI Data Surge | Durham News
Bank of America just slapped a “Buy” rating on Tower Semiconductor with a $367 price target, citing its record-breaking quarter and tripled stock gains — but the real story? It’s not about AI chips doing the heavy lifting, it’s about the ones moving data between them. Tower’s silicon photonics chips, which use light to shuttle massive amounts of data in AI data centers, are exploding in demand: Q2 revenue jumped 270% YoY to an annualized run rate of $680M, expected to hit $1B by year-end. To meet this surge, Tower is reviving a Japanese plant (Q4 2027 launch) and building a second facility —…
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