Company: TSEM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001178913-25-001537
Chunk: 37

Company: TOWER SEMICONDUCTOR LTD
Filing Date: 2025-04-30
Form: 20-F
Item: Item 3
Chunk 37
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 their next-generation products has enabled us to maintain a high customer retention rate, while increasing the number
of new customers and new products.

We continuously aim to expand our capacity and capacity flexibility
among our different technologies. To accomplish this, we invest in our facilities and acquire external capacity (such as Fab 10
and Fab 11 under the capacity corridor agreement with Intel) or through fab acquisitions, as we have done in the past, independently or
through third-party collaboration and/or funding (including cash, equity or in-kind investment). We also offer from time to time a wide
range of support services for the establishment of new semiconductor fabrication facilities or the ramp up of existing facilities owned
by third parties, using our technological, operational and integration expertise, for which we receive payments based on the achievement
of pre-defined milestones and may also be entitled to certain capacity allocation and other rights, all subject to definitive agreements
underlying such projects.

We derived a significant amount of our revenues for the year ended
December 31, 2024 from our target specialized technologies: RF CMOS, including RF SOI (RF CMOS on silicon-on-insulator), SiGe BiCMOS,
silicon photonics, power ICs, discrete devices and CMOS image sensors. We are highly experienced in these technologies, having been an
early entrant and having developed unique proprietary technologies, including through licensing and joint development efforts with our
customers and other technology companies.

SiGe BiCMOS for RF and High-Performance Analog

Our SiGe BiCMOS process technologies offer more features than RF
CMOS or standard BiCMOS processes and are well suited for advanced RF and high-performance analog semiconductors, such as high-speed,
low-noise front-end wireless components, optical and copper-wired networking components, automotive radar components, hard-disk drive
pre-amplifiers, power amplifiers, and low-noise amplifiers. These technologies generally incorporate silicon germanium bipolar transistors,
which are formed by depositing a thin layer of silicon germanium within a CMOS process, to achieve higher speed, lower noise, and more
efficient power performance than regular CMOS process technology. SiGe BiCMOS can achieve speeds equivalent to those demonstrated in standard
RF CMOS processes that are two process generations smaller in line width. For example, a 0.18 micron SiGe BiCMOS process can achieve speeds
comparable to a 90 nanometer RF CMOS process. This allows for the creation of analog