Tower Semiconductor, an Israeli wafer foundry, announced on the 17th that it plans to invest US$150 million to increase production capacity. In addition, driven by demand growth, the company predicts that this year's revenue will hit a record high.
In recent months, chip makers are seeing a surge in demand because the economy is recovering from the pandemic faster than expected. Among them, the automotive industry is most affected by the chip shortage, while Tower is specialized in the foundry of analog chips used in automobiles, medical sensors and power management.
Tower said it will invest in equipment at its manufacturing plants in Israel, Texas and Japan to increase the production capacity of 200 and 300 mm wafers.
