Intel Testing Horizontal Resistance On Deal With Tower Semiconductor

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Intel INTC stock is testing a horizontal resistance level on September 5, 2023, after the company reported a major deal with Tower Semiconductor.

INTC stock testing horizontal resistance on September 5, 2023

Intel Foundry Services and Tower Semiconductor Announce New US Foundry Agreement

Intel Foundry Services and Tower Semiconductor announced an agreement on September 5, 2023, under which Intel will offer foundry services and 300mm manufacturing capacity to support Tower in serving its customers globally. Tower will use the advanced manufacturing facility in New Mexico owned by Intel as per the agreement. Tower will invest up to $300 million to purchase and own machinery and other fixed assets that will be installed in the New Mexico facility, creating a new capacity corridor of over 600,000 photo layers per month for Tower’s future growth and enabling capacity to support anticipated customer demand for 300mm advanced analog processing.

Stuart Pann, Intel senior vice president and general manager of Intel Foundry Services, said, “We launched Intel Foundry Services with a long-term view of delivering the world’s first open system foundry that brings together a secure, sustainable, and resilient supply chain with the best of Intel and our ecosystem. We’re thrilled that Tower sees the unique value we provide and chose us to open their 300mm U.S. capacity corridor.”

Tower CEO Russell Ellwanger said, “We are excited to continue working with Intel. As we look to the future, our primary focus is to expand our customer partnerships through high-scale manufacturing of leading-edge technology solutions. This collaboration with Intel allows us to fulfill our customers’ demand roadmaps, with a particular focus on advanced power management and radio frequency silicon on insulator (RF SOI) solutions, with full process flow qualification planned in 2024. We see this as a first step towards multiple unique synergistic solutions with Intel.”

Intel Corporation is an American multinational technology company that primarily focuses on the design and manufacture of semiconductor chips and related technologies. They are one of the largest manufacturers of microprocessors, which are the central processing units (CPUs) used in computers and other electronic devices. Intel designs and develops a wide range of products including processors, chipsets, motherboards, memory, storage devices, network interface controllers, and software solutions. Their products are used in various applications such as personal computers, laptops, servers, data centers, smartphones, tablets, embedded systems, and other IoT (Internet of Things) devices. In addition to hardware, Intel also provides software development tools, programming languages, and support for developers to create applications optimized for their processors. They have also expanded into other areas such as artificial intelligence, autonomous driving, wireless communication, and 5G technology. Intel’s mission is to shape the future of technology by powering the world’s computing devices, advancing innovations, and transforming industries. Intel Corporation was founded on July 18, 1968.

Tower Semiconductor, also known as TowerJazz, is a global specialty foundry company that manufactures integrated circuits (ICs) for various industries. The company operates multiple manufacturing facilities worldwide and offers a broad range of technologies and services, including:

1. Semiconductor Foundry Services: Tower Semiconductor provides advanced semiconductor manufacturing solutions for leading global customers. They specialize in producing analog ICs, power management devices, imaging sensors, MEMS (Micro-Electro-Mechanical Systems), and other specialty components.

2. Design Enablement: Tower Semiconductor offers comprehensive design enablement solutions, including process design kits (PDKs), reference designs, and design support services. These resources help customers optimize the design and functionality of their ICs and accelerate time-to-market.

3. Technical and Manufacturing Support: Tower Semiconductor provides technical and manufacturing support to its customers throughout the entire production process. This includes process transfer, wafer fabrication, packaging, testing, and quality assurance.

4. Specialty Technologies: The company has developed and optimized several specialty semiconductor technologies, such as Radio Frequency (RF) CMOS, high voltage, and automotive-grade solutions. These technologies cater to specific market segments with unique requirements.

Tower Semiconductor serves a wide range of industries, including consumer electronics, automotive, industrial, medical, aerospace, and defense. Their focus on specialty foundry services allows them to cater to customers who require customized IC solutions or low-to-medium volume production capabilities.

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