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Intel Foundry Services and Tower Semiconductor Announce New US Foundry Agreement
Intel Foundry Services (IFS) and Tower Semiconductor (Nasdaq: TSEM), a leading foundry for analog semiconductor solutions, today announced an agreement where Intel will provide foundry services and 300mm manufacturing capacity to help Tower serve its customers globally. Under the agreement, Tower will utilize Intel’s advanced manufacturing facility in New Mexico. Tower will invest up to $300 million to acquire and own equipment and other fixed assets to be installed in the New Mexico facility, providing a new capacity corridor of over 600,000 photo layers per month for Tower’s future growth, enabling capacity to support forecasted customer demand for 300mm advanced analog processing.