Tower soars to record on AI infrastructure agreements

The share price of Israeli chipmaker Tower Semiconductor Ltd. (Nasdaq: TSEM; TASE:TSEM) rose 31.2% on Nasdaq last week, despite weakening slightly on Friday. The company now has a market cap of $18.4 billion, after leapfrogging Check Point Software Technologies Ltd. (Nasdaq: CHKP), and becoming the third most valuable Israeli company on Wall Street after Elbit Systems Ltd. (Nasdaq: ESLT; TASE:ESLT) and Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA). Tower, led by CEO Russell Ellwanger, is du ...