Photonics

In the last two weeks, one word has been driving Wall Street and the Tel Aviv Stock Exchange crazy: photonics. New funds are raising millions with the promise that light will replace electricity. But from in-depth checks I conducted, a surprising picture emerges.

Chip manufacturer Tower Semiconductor finished the second quarter with a 24% revenue growth to $460 million. The company expects growth to accelerate to 31% in the current quarter.