Tower Semiconductor
TSEMcompute· NASDAQ (ADR; primary TASE)Tower Semiconductor – Specialty foundry: Silicon photonics manufacturing and transceiver chips.
Why it matters
Silicon photonics is taking share from EML one generation early because of laser supply. Tower is one of the few foundries qualified for that work at scale.
The read
Levered to Qualified silicon-photonics foundry capacity (SiPho taking EML share a generation early).
Bull case: Silicon photonics is taking share early because of laser scarcity, and Tower is one of few foundries qualified for that work at scale.