5 Stocks Dominating Today’s Market Action

2. Tower Semiconductor Ltd. (NASDAQ:TSEM)

Tower Semiconductor soared to a nearly 25-year high on Thursday, following news that it teamed up with Oriole Networks to develop AI infrastructure products in line with the aim to tap an expected $80-billion total addressable market.

At intra-day trading, Tower Semiconductor Ltd. (NASDAQ:TSEM)  jumped to its highest price of $166.44 before paring gains to finish the session just up by 16.99 percent at $166.08 apiece. The last time the stock touched the said level was in July 2001.

In a statement, Tower Semiconductor Ltd. (NASDAQ:TSEM) said that it partnered with Oriole Networks to deliver ultra-low, deterministic-latency networking for scale-up and scale-out AI architectures, built on Tower’s mature silicon photonics platform.

“As AI models continue to scale, requiring increasingly large clusters of processors, achieving high-radix networks with massive bandwidth and low latency becomes increasingly challenging. Leveraging Tower’s advanced silicon photonics platform, Oriole’s edge-switching architecture enables nanosecond optical circuit switching and a passive network core designed to deliver low and predictable tail latency with improved resiliency,” they said.

Ed Preisler, general manager of Tower Semiconductor Ltd.’s (NASDAQ:TSEM) RF Business Unit, said that the company’s partnership with Oriole “is a key step toward bringing AI back-end networking to market that can scale clusters and break through today’s latency wall.”