Intel has acquired Tower Semiconductor for $5.4bn to further expand its manufacturing capacity of semiconductor chips to address unprecedented industry demand.
Announced less than a month since the company unveiled plans announced plans to invest $20bn in a new chip facility, the acquisition marks a very positive move for the semiconductor market.
As gasworld reported late last month, demand for semiconductors is as much as 17% higher in 2021 than it was in 2019, and consumers aren’t seeing commensurate increases in the available supply, according to the US Department of Commerce.
Adding to this strain, the majority of on-stream semiconductor manufacturing facilities are operating at or above 90% utilisation, meaning there is limited additional supply to bring online without building facilities.
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