TSEM. Towering over a new waveTower Semiconductor LtdBATS:TSEMMRCMMIt´s becoming an increasingly attractive picks-and-shovels play on AI infrastructure. Not only, because it manufactures leading-edge CPUs/GPUs, but because it supplies specialised technologies, that sit around the AI compute ecosystem. The biggest bull catalyst is silicon photonics (SiPho). Tower’s SiPho business reached a $680M annualised revenue run-rate in Q2 2026, up more than 270% YoY, and management expects it to exceed $1B annualised in Q4 2026. Even more importantly, Tower says customers have contracted $1.3B of SiPho revenue for 2027, giving unusually strong visibility.