Intel’s advanced 300mm manufacturing
facility in New Mexico to provide new capacity corridor for Tower,
helping fuel future growth
SANTA CLARA, Calif., and MIGDAL HAEMEK, Israel, Sept. 5,
2023 – Intel Foundry Services (IFS) and Tower
Semiconductor (Nasdaq: TSEM), a leading foundry for analog
semiconductor solutions, today announced an agreement where Intel
will provide foundry services and 300mm manufacturing capacity to
help Tower serve its customers globally. Under the agreement, Tower
will utilize Intel’s advanced manufacturing facility in New Mexico.
Tower will invest up to $300 million to acquire and own equipment
and other fixed assets to be installed in the New Mexico facility,
providing a new capacity corridor of over 600,000 photo layers per
month for Tower’s future growth, enabling capacity to support
forecasted customer demand for 300mm advanced analog
processing.
This agreement demonstrates the commitment from both Intel and
Tower to expand their respective foundry footprints with
unparalleled solutions and scaled capabilities. Intel will
manufacture Tower’s highly differentiated 65-nanometer power
management BCD (bipolar-CMOS-DMOS) flows, among other flows at
Intel’s Fab 11X in Rio Rancho, New Mexico. Stuart Pann, Intel
senior vice president and general manager of Intel Foundry
Services, said, “We launched Intel Foundry Services with a
long-term view of delivering the world’s first open system foundry
that brings together a secure, sustainable, and resilient supply
chain with the best of Intel and our ecosystem. We’re thrilled that
Tower sees the unique value we provide and chose us to open their
300mm U.S. capacity corridor.”
Tower CEO Russell Ellwanger said, “We are excited to continue
working with Intel. As we look to the future, our primary focus is
to expand our customer partnerships through high-scale
manufacturing of leading-edge technology solutions. This
collaboration with Intel allows us to fulfill our customers’ demand
roadmaps, with a particular focus on advanced power management and
radio frequency silicon on insulator (RF SOI) solutions, with full
process flow qualification planned in 2024. We see this as a first
step towards multiple unique synergistic solutions with Intel.”
This agreement shows how IFS enables access to corridors of
manufacturing capacity across Intel’s global factory network,
including in the U.S., Europe, Israel and Asia. In addition to
existing investments in Oregon and planned investments in Ohio,
Intel has been investing and innovating in the Southwest region of
the U.S. for more than 40 years, with sites in Arizona and New
Mexico. Intel previously announced a $3.5 billion investment to
expand operations in New Mexico and equip its Rio Rancho campus,
one of its innovation hubs, for the manufacturing of advanced
semiconductor packaging.
For Tower, this is the next step in its path to increased scale,
serving an expanding customer base in 300mm technologies led by
strong market adoption of its industry-leading 65nm BCD power and
RF SOI technologies. Specifically, Tower’s 65nm BCD technology
offers customers improved power efficiency, die-size and die cost
through its best-in-class Rdson figure of merit. Similarly, Tower’s
65nm RF SOI technology helps its customers reduce handset battery
consumption while improving wireless connections through its
best-in-class RonCoff figure of merit. The increased scale
resulting from this agreement will enable Tower not only to serve
larger opportunities with existing technologies but also enhance
partnerships with industry-leading customers that will help forge
strong next-generation technology roadmaps.
IFS is a critical pillar of Intel’s IDM 2.0 strategy, and
today’s announcement represents another step forward in Intel’s
multiyear transformation to regain and strengthen technology
leadership, manufacturing scale and long-term growth. IFS has made
significant strides over the past year as demonstrated by its more
than 300% year-over-year revenue increase in the second quarter of
2023. This momentum is further illustrated by Intel’s recent
agreement with Synopsys to develop a portfolio of intellectual
property on Intel 3 and Intel 18A process nodes. Intel was also
awarded the U.S. Department of Defense’s Rapid Assured
Microelectronics Prototypes - Commercial (RAMP-C) program, with
five RAMP-C customers in design engagement on Intel 18A.
Forward-Looking Statements This release
contains forward-looking statements that involve a number of risks
and uncertainties. Such statements include those regarding Intel’s
business plans and strategy and anticipated benefits therefrom,
including with respect to its external foundry ambitions, internal
foundry model, IDM 2.0 strategy, manufacturing capacity expansion
plans, IP portfolio expansion and agreements with Tower and other
customers. Such statements involve many risks and uncertainties
that could cause Intel’s actual results to differ materially from
those expressed or implied, including: changes in demand for
Intel’s products; Intel’s failure to realize the anticipated
benefits of its strategy, plans, and proposed transactions; the
high level of competition and rapid technological change in the
semiconductor industry; the significant upfront investments in
R&D and Intel’s business, products, technologies, and
manufacturing capabilities; the complexity and fixed cost nature of
semiconductor manufacturing operations; construction delays or
changes in plans due to business, economic, or other factors;
increases in capital requirements and changes in capital investment
plans; adverse changes in anticipated government incentives and
associated approval related to Intel’s planned capital investments;
vulnerability to new product development and manufacturing-related
risks, including product defects or errata, particularly as Intel
develops next generation products and implements next generation
process technologies; risks associated with a highly complex global
supply chain, including from disruptions, delays, trade tensions,
or shortages; sales-related risks, including customer concentration
and the use of distributors and other third parties; potential
security vulnerabilities in Intel products; cybersecurity and
privacy risks; investment and transaction risk; IP risks and risks
associated with litigation and regulatory proceedings; evolving
regulatory and legal requirements across many jurisdictions;
geopolitical and international trade conditions; Intel’s debt
obligations; risks of large scale global operations; macroeconomic
conditions; impacts of the COVID-19 or similar such pandemic; and
other risks and uncertainties described in Intel’s earnings release
dated July 27, 2023, 2022 Annual Report on Form 10-K and other
filings with the U.S. Securities and Exchange Commission (SEC). All
information in this press release reflects Intel management’s views
as of the date hereof, unless an earlier date is specified. Intel
does not undertake, and expressly disclaims any duty, to update
such statements, whether as a result of new information, new
developments, or otherwise, except to the extent that disclosure
may be required by law.
About Intel
Intel (Nasdaq: INTC) is an industry leader, creating
world-changing technology that enables global progress and enriches
lives. Inspired by Moore’s Law, we continuously work to advance the
design and manufacturing of semiconductors to help address our
customers’ greatest challenges. By embedding intelligence in the
cloud, network, edge and every kind of computing device, we unleash
the potential of data to transform business and society for the
better. To learn more about Intel’s innovations, go to
newsroom.intel.com and intel.com.
About Tower Semiconductor
Tower Semiconductor Ltd. (Nasdaq: TSEM, TASE: TSEM), the leading
foundry of high value analog semiconductor solutions, provides
technology and manufacturing platforms for integrated circuits
(ICs) in growing markets such as consumer, industrial, automotive,
mobile, infrastructure, medical and aerospace and defense. Tower
Semiconductor focuses on creating positive and sustainable impact
on the world through long term partnerships and its advanced and
innovative analog technology offering, comprised of a broad range
of customizable process platforms such as SiGe, BiCMOS,
mixed-signal/CMOS, RF CMOS, CMOS image sensor, non-imaging sensors,
integrated power management (BCD and 700V), and MEMS. Tower
Semiconductor also provides world-class design enablement for a
quick and accurate design cycle as well as process transfer
services including development, transfer, and optimization, to IDMs
and fabless companies. To provide multi-fab sourcing and extended
capacity for its customers, Tower Semiconductor owns two
manufacturing facilities in Israel (150mm and 200mm), two in the
U.S. (200mm), two in Japan (200mm and 300mm) which it owns through
its 51% holdings in TPSCo, and is sharing a 300mm manufacturing
facility being established in Italy by STMicroelectronics. For more
information, please visit www.towersemi.com.
Safe Harbor Regarding Forward-Looking
Statements
This press release includes forward-looking statements, which
are subject to risks and uncertainties. Actual results may vary
from those projected or implied by such forward-looking statements.
A complete discussion of risks and uncertainties that may affect
the accuracy of forward-looking statements included in this press
release or which may otherwise affect Tower’s business is included
under the heading “Risk Factors” in Tower’s most recent filings on
Forms 20-F and 6-K, as were filed with the Securities and Exchange
Commission (the “SEC”) and the Israel Securities Authority. Tower
does not intend to update, and expressly disclaim any obligation to
update, the information contained in this release.
© Intel Corporation. Intel, the Intel logo and other Intel marks
are trademarks of Intel Corporation or its subsidiaries. Other
names and brands may be claimed as the property of others.
CONTACTS:
Michael AndersonIntel Investor Relations
1-916-356-7704michael.anderson@intel.com
John Hipsher Intel Media Relations
1-669-223-2416john.hipsher@intel.com
Noit LevyTower Investor Relations +972-4-604-7066
noitle@towersemi.com
Orit Shahar Tower Media Relations+972-74-7377440
oritsha@towersemi.com
- Intel-Spire-News-Release--FINAL
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