Tower Semiconductor announced a $3 billion investment to enhance its chip manufacturing capabilities in Japan, including a $1 billion grant from the Japanese government. The first phase of the project will focus on significantly increasing the capacity for 300-mm silicon photonic devices, with full production anticipated by Q4 2027. This phase involves converting the existing Fab 6 facility to support 300-mm silicon photonic devices and advanced packaging. Concurrently, the second phase will commence, involving the construction of a new 300-mm lithography fab adjacent to the Fab 7 site.