Tower Semiconductor Shares Rise 9% Over Collaboration With Oriole Networks

(RTTNews) - Shares of Tower Semiconductor Ltd. (TSEM) are climbing about 9 percent on Monday morning trading after it announced a collaboration 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.

The company's shares are currently trading at $136.80 on the Nasdaq, up 9.62 percent. The stock opened at $133.90 and has climbed as high as $138.35 so far in today's session. Over the past year, it has traded in a range of $28.64 to $149.57.

The collaboration will integrate Oriole's networking technology with Tower's silicon photonics manufacturing platform to commercialize nanosecond optical circuit switching as a foundational building block of Oriole's network architecture.