Intel to Buy Tower Semiconductors for $5.4B as Chip Demand Remains High

Intelon Tuesday said it has reached an agreement toacquire Israel-based chipmaker Tower Semiconductorfor about $5.4 billion.

Intel isn’t the only company making big moves in an attempt to capitalize on chip demand.

Rival AMD on Monday completed its$50 billion acquisition of programmable chipmaker Xilinx.

Intel acquired its own FPGA company, Altera, in 2015.