Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Deep Fundamental Analysis

[Part 1: The Materials Chokepoint] Looking Into (And Past) The Indium Price Story

LAZR: When a Photonics ETF Becomes a Private AI Wrapper

Where Is the True Value in the Optics Trade? A Comparison of 3 ETFs

Tower Semiconductor Q1 2026. It's All About Silicon Photonics Now!

[Part 3] What Advantest and FormFactor’s Earnings Say About CPO’s Bottleneck

TSEM: Tower Semiconductor Beats Q1 Estimates and Raises Expectations  It Collected 240M in Customer Prepayments For 2027

AI | Semiconductors | Commodities, Mint Finance

Raghav Vashisht

AI | Semiconductors | Commodities

Equity Bottom-Up

<ul>
<li>Tower disclosed $1.3 billion in contracted silicon photonics revenue for 2027, backed by $290 million in customer prepayments, indicating clear contracted demand beyond thematic exposure.</li>
<li>Tower's SiPh process already underpins a named 1.6T optical module collaboration with Nvidia, placing it at the fabrication layer of the AI networking stack.</li>
<li>The Intel Fab 11 300mm capacity arrangement remains in dispute, but the core SiPh thesis does not require it and can stand on hitherto disclosed contracts alone.</li>
</ul>


Tower disclosed $1.3 billion in contracted silicon photonics revenue for 2027, backed by $290 million in customer prepayments, indicating clear contracted demand beyond thematic exposure.
Tower's SiPh process already underpins a named 1.6T optical module collaboration with Nvidia, placing it at the fabrication layer of the AI networking stack.
The Intel Fab 11 300mm capacity arrangement remains in dispute, but the core SiPh thesis does not require it and can stand on hitherto disclosed contracts alone.


Tower Semiconductor: The TSMC of the CPO Trade