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Tower Semiconductor Raises Forecasts on AI and Data Center Demand Surge

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Tower Semiconductor, the Israeli-based contract chipmaker, forecast fourth-quarter revenue above market expectations, driven by booming demand for chips used in data centers and AI infrastructure. The announcement sent the company’s U.S.-listed shares up 15%, reaching their highest level in over two decades after a 63% surge this year.

The company said it expects revenue of around $440 million, plus or minus 5%, surpassing analysts’ estimates of $434.4 million, according to LSEG data.

CEO Russell Ellwanger attributed the growth to strong demand for Tower’s analog and mixed-signal semiconductors, which are widely used in automotive, industrial, and communications technologies. He added that the company’s Silicon-Germanium and Silicon Photonics technologies — essential for high-speed optical data transmission — are key growth drivers as global data center expansion accelerates.

Tower also announced an additional $300 million investment to expand its manufacturing capacity and advance next-generation chip capabilities across Israel, the United States, Italy, and Japan.

For the third quarter ended September 30, Tower reported revenue of $395.7 million, slightly above forecasts, and adjusted earnings of 55 cents per share, topping estimates of 54 cents.

The results highlight the semiconductor industry’s ongoing shift toward AI-driven infrastructure, where specialized chips for data transmission and network performance are becoming vital to global tech ecosystems.

Rumble to Acquire Germany’s Northern Data in $767 Million AI Cloud Deal

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Rumble, the U.S.-based video platform that also hosts Donald Trump’s Truth Social, announced on Monday that it will acquire German AI cloud company Northern Data in an all-stock deal worth about $767 million, sending Rumble’s shares up more than 25% in premarket trading.

Under the terms of the agreement, Northern Data shareholders will receive 2.0281 newly issued Rumble Class A shares for each share held, representing a 12.99% discount to Northern Data’s last closing price. The acquisition gives Rumble access to Northern Data’s AI computing arm, Taiga, and its large-scale data center unit, Ardent.

The deal also includes a $150 million GPU-leasing agreement with Tether, the cryptocurrency firm that owns roughly 48% of Rumble, as well as $200 million in tax liability support from Rumble. Upon completion, Rumble will gain control of 22,400 Nvidia GPUs, significantly boosting its AI computing capacity.

Tether, which invested $775 million in Rumble in December 2024, has agreed to become an anchor customer of the combined group, supporting long-term AI infrastructure demand.

Following the merger, Northern Data shareholders will hold 30.4% of the new company, which will operate under Rumble’s name. The deal is expected to close in the second quarter of 2026, after which Northern Data will delist from the stock market.

Northern Data had withdrawn its 2025 forecast in October amid volatility in the GPU market, but the merger positions both companies to capitalize on rising global demand for AI data centers.

Southeast Asia’s Digital Economy Sees Slower Private Funding Growth Despite AI Boom

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Private funding for Southeast Asia’s digital economy rose 15% year-on-year to $7.7 billion in the 12 months to June 2025, lagging the global private investment growth rate of 25%, according to a new report by Google, Temasek Holdings, and Bain & Company.

While the figure marks an improvement from 2024, it remains about 70% below the region’s 2021 record high of $27 billion, reflecting a slower recovery from the post-pandemic investment cooldown.

The report found that funding is increasingly concentrated in late-stage rounds, with the share of seed-to-Series B deals dropping from around 30% to 20% over the past year.

This year’s edition expanded its coverage to include Brunei, Cambodia, Laos, and Myanmar, alongside Indonesia, Thailand, Vietnam, Singapore, Malaysia, and the Philippines — a region of nearly 700 million people and one of the world’s fastest-growing internet markets, driven by a young population and rising smartphone use.

Despite the funding slowdown, AI startups remain a bright spot, attracting 32% of all private capital in the region during the first half of 2025 — up slightly from 30% in the second half of 2024. Over 680 AI startups secured more than $2.3 billion, with Singapore hosting more than 495 of them.

The report also highlighted rapid data center expansion, as countries rush to build infrastructure for the AI boom. Data center capacity in Southeast Asia is expected to grow 2.8 times, surpassing the 2.2 times growth forecast for the wider Asia-Pacific.

Malaysia leads this expansion, with 2,415 MW of new capacity planned — more than half the region’s total 4,620 MW — attracting major investments from Microsoft, Amazon, Google, Tencent, Huawei, and Alibaba.

Meanwhile, TikTok plans to invest $4 billion in data hosting facilities in Thailand, while Google and Amazon are each investing $1 billion and $5 billion respectively in the country, underscoring the growing competition in Southeast Asia’s digital infrastructure landscape.