TOWER SEMICONDUCTOR LTD

Tower Semiconductor announced it will release its second quarter 2026 earnings on Tuesday, August 4, 2026. Following the release, the company will host a conference call on the same day at 10:00 a.m. Eastern Time to discuss the financial results and provide third quarter 2026 guidance. The conference call will be webcast and accessible through the Investor Relations section of Tower Semiconductor's website, where participants can also pre-register for dial-in details.

Tower Semiconductor Ltd. announced the results of its Annual General Meeting held on July 2, 2026. While most proposals were approved by shareholders, Proposal 3, concerning an amended and restated compensation policy for directors and executive officers, was not approved. The Compensation Committee and Board of Directors will review the voting results and determine the next steps, emphasizing their commitment to strong governance. All existing compensation arrangements for directors and officers will remain in effect.

Tower Semiconductor Ltd. is providing supplemental information for its Annual General Meeting on July 2, 2026, regarding Proposal 3, which seeks approval of an amended and restated compensation policy for directors and executive officers. The Board of Directors unanimously recommends voting FOR the proposal, citing significant company growth, increased market capitalization, and the need to attract and retain global executive talent. The proposed changes aim to align compensation with the company's current scale and competitive landscape, while maintaining a pay-for-performance philosophy and strong shareholder protections.

Tower Semiconductor, in partnership with Marvell Technology, has shipped over five million coherent photonic integrated circuits (PICs) to Marvell's global customers. These advanced, high-performance photonics solutions are crucial for addressing the growing bandwidth and efficiency demands of AI-driven data center interconnect networks. The collaboration focuses on advancing next-generation coherent technologies, including integrating non-silicon materials and 3D electronics, to extend silicon photonics platform performance.

Tower Semiconductor announced a significant milestone in its partnership with Marvell Technology, having shipped over five million coherent photonic integrated circuits (PICs) to Marvell's global customers. These advanced, high-performance photonics solutions are designed to meet the increasing bandwidth and efficiency demands of AI-driven data center interconnect networks. The collaboration focuses on advancing next-generation coherent technologies, including integrating non-silicon materials and 3D integration.

Tower Semiconductor and IQE plc announced a multi-year agreement for IQE to supply Indium Phosphide (InP) epiwafers to Tower. These epiwafers will be utilized in Tower's advanced silicon photonics platforms for next-generation optical connectivity solutions, particularly for AI-driven data center infrastructure. The collaboration includes technology for 200Gbs/lane pluggable transceivers and prototyping 400Gb/lane modulators. Additionally, a separate agreement resolves all prior IP disputes between the companies, with Tower providing IQE a royalty-free license for porous silicon patents.

Tower Semiconductor Ltd. announced its Annual General Meeting of Shareholders (AGM) to be held on July 2, 2026. Shareholders will vote on several key proposals, including the election of ten directors, the appointment and compensation of the Chairman of the Board, and the approval of an amended compensation policy for directors and executive officers. Additionally, proposals include an increase in the CEO's annual base salary and equity-based awards for the CEO and other board members, as well as the re-appointment of the company's independent auditors.

Tower Semiconductor announced signing $1.3 billion in Silicon Photonics (SiPho) contracts for 2027 revenue with its largest customers. The company also received $290 million in customer prepayments for capacity reservation, with an even larger contractual commitment for 2028. To support accelerating demand, Tower is expanding its multi-fab SiPho capacity, aiming for $2.8 billion revenue and $750 million net profit in 2028. These agreements strengthen Tower's position in the rapidly expanding optical connectivity market, driven by AI infrastructure.

Tower Semiconductor announced signing $1.3 billion in Silicon Photonics (SiPho) contracts for 2027 revenue with its largest customers. The company also received $290 million in customer prepayments for capacity reservation. These initial commitments are reinforced by even larger contractual wafer commitments for 2028, with additional prepayments due by January 2027. Tower is expanding its multi-fab SiPho capacity to support accelerating demand, targeting $2.8 billion revenue and $750 million net profit in 2028.

Tower Semiconductor reported strong first quarter 2026 financial results, with revenue growing 15% year-over-year to $414 million and net profit increasing to $65 million. The company provided record second quarter 2026 revenue guidance of $455 million, representing 22% year-over-year growth, and expects sequential revenue and margin growth throughout the year. Strategic advancements include a restructuring transaction in Japan for full ownership of Fab 7 and $1.3 billion in contracted silicon photonics revenue for 2027.