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Quick takes:
Macro & Labor: The Histadrut declared a general labor dispute in the aviation sector, threatening to ground over 11,000 workers across all major Israeli airlines and the Airports Authority.
Tech: Tower Semiconductor and Scintil Photonics launched the world’s first integrated DWDM laser sources for AI cloud infrastructure.
Defense & Aerospace: Elbit Systems secured $277 million in new international contracts; RSL Electronics received a ₪1.6 million order from the US Air Force; Spacecom finalized satellite service extension with the Israeli government.
Infrastructure: Minrav won a ₪392 million tender from Netivei Israel.
Technology
Tower Semiconductor (TASE:TOWER) announced a major technological pivot via its partnership with Scintil Photonics. The duo launched ‘SHIP’ (Heterogeneous Integrated Photonics), a laser-on-chip technology essential for AI agent infrastructure. The collaboration targets the AI networking market, projected to reach $200 billion by 2030, by providing low-latency, low-power optical links for hyperscale data centers.
Tower’s global multi-fab footprint provides the manufacturing scale required by US cloud providers, effectively decoupling their AI supply chain from regional geopolitical risks.
Our take: Tower is positioning itself at the center of the ‘Agentic AI’ era. By integrating lasers directly onto silicon photonics, they are solving the energy-density bottleneck that currently limits GPU clusters. This isn't just a chip announcement; it's a play for the fundamental plumbing of the next decade's cloud architecture.
Defense & Aerospace
Elbit Systems (TASE:ESLT) continues its winning streak, announcing $277 million in contracts for its UT30 MK2 modular turrets and munitions for an undisclosed international client. This follows yesterday’s $435 million deal, bringing the 48-hour total to over $710 million.
RSL Electronics (TASE:RSEL) received a ₪1.6 million order from the US Air Force for the testing and upgrade of temperature controllers in T-38 Talon trainers. The order is part of a $6 million five-year framework, with RSL anticipating follow-on orders of $2.8 million later this year.
Spacecom (TASE:SCC) extended its satellite communication agreements with the Israeli government for the Amos-4 and Amos-17 satellites. The deal, valued at $8.4 million (₪26 million), ensures continuous secure communications as the older Amos-3 approaches the end of its operational life.
Infrastructure & Real Estate
Minrav has been selected to lead the ₪392 million upgrade of the Beit Dagan interchange, a primary artery between Central Israel and Ramla. This victory cements Minrav's strategy to pivot toward long-term national PPP (Public-Private Partnership) projects. The firm is also currently bidding for the Highway 5 fast-lane project and the Highway 6 northern extension, both multi-billion shekel infrastructure plays.
Macro & Labor
A high-level delegation from the Ministry of Economy is heading to New Delhi to begin formal chapters of a Free Trade Agreement (FTA) between Israel and India. Following a framework signed in November, the deal aims to slash some of the world’s highest customs duties on Israeli technology, chemicals, and medical devices. Bilateral trade reached $5 billion in 2025, but experts believe an FTA could inject billions more into the economy as Israel integrates into India’s massive modernization tenders.
The Histadrut has triggered a 14-day countdown to a potential total shutdown of Israeli airspace. The dispute centers on the government’s plan to allow Wizz Air to establish a permanent local base. Union leaders argue the move threatens the job security of 11,000 workers across the ‘Big Three’ local carriers (Elal, Israir and Arkia) and the Israel Airports Authority.
TASE snapshot for Wednesday, Feb. 18, 2026
TA-35 Index (TASE:TA35): 🟢 +0.87%
TA-90 (TASE:TA90): 🟢 +0.50%
TA-125 (TASE:TA125): 🟢 +0.09%
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