Indicate by check mark whether the registrant files
or will file annual reports under cover of Form 20-F or Form 40-F:
The information in the attached Exhibit 99.1 is
being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated
by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise
set forth herein or as shall be expressly set forth by specific reference in such a filing.
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Exhibit 99.1
MCNEX Launches Industry’s First Automotive-Grade
QHD Front-and-Rear Cameras over Unshielded Cables & Connectors, Based on Valens Semiconductor’s VA7000 A-PHY Chipsets
The cameras allow OEMs to reduce harness cost
by operating over the simplest channels, including UTP and low-cost Coax, while retaining high-resolution imaging; MCNEX also introduces
to market a 4K rear camera based on A-PHY
SEOUL, Korea and HOD HASHARON, Israel –
February 18, 2026 – MCNEX and Valens Semiconductor (NYSE: VLN) today announced the joint development and availability of a new family
of high-resolution front and rear automotive cameras that deliver QHD (2560×1440) video over unshielded twisted pair (UTP) or low-cost
Coax channels, powered by Valens’ VA7000 A-PHY chipsets. The cameras enable OEMs to significantly reduce the cost and complexity
of their wiring harness while retaining high image quality for ADAS and autonomous applications.
Unshielded cables and connectors present an attractive
wire harness option for automotive OEMs, especially for interior ADAS applications such as front and rear cameras mounted inside the vehicle
cabin; the Valens’ VA7000 delivers multi-gig link speeds over these simple channels. By leveraging the high bandwidth and EMC robustness
of the VA7000, based on the MIPI A-PHY standard technology, the MCNEX modules deliver reliable multigigabit performance over simple cables,
making them ideal for next-generation front and rearview camera designs in cost-sensitive, high-volume vehicle platforms.
MCNEX is also releasing to market a new 4K, 60fps
rear view camera that operates over shielded cabling, based on the Valens VA7000. These chipsets are already in mass production, with
the first OEM vehicle production (SoP) expected in early 2027.
“MCNEX has a long history of delivering
advanced imaging solutions to leading global automakers, and these new cameras are a natural next step in that journey,” said Young
Hyun Jeong, VP, Automotive BU at MCNEX. “By combining our camera expertise with Valens Semiconductor’s VA7000 chipsets, we
are giving OEMs strong options for front- and rear-facing cameras, and we’re looking forward to sharing these solutions with our
OEM customers and partners.”
“Automakers are under pressure to increase
sensor resolution and data bandwidth while controlling cost, weight, and most importantly, ensuring flawless performance and passenger
safety,” said Adar Segal, Head of Automotive Business at Valens Semiconductor. “The collaboration with MCNEX showcases how
our VA7000 chipsets, based on MIPI A-PHY technology, enables multi-gigabit, long-reach links over the simplest cabling, including UTP
and low-cost Coax. This offering will help OEMs scale to next-generation ADAS systems with higher image quality and more flexible cabling
topologies.”
About MCNEX
MCNEX is a leading global supplier of automotive
camera modules and imaging solutions. The company develops and manufactures advanced camera systems for ADAS and autonomous driving applications,
serving major automotive OEMs and Tier 1 suppliers worldwide. MCNEX is known for its expertise in optical design, image processing, and
automotive-grade manufacturing. For more information, visit https://www.mcnex.com/.
About Valens Semiconductor
Valens Semiconductor (NYSE:VLN) is a leader in
high-performance connectivity, enabling customers to transform the digital experiences of people worldwide. Valens’ chipsets are
integrated into countless devices from leading customers, powering state-of-the-art audio-video installations, next-generation videoconferencing,
and enabling the evolution of ADAS and autonomous driving. Pushing the boundaries of connectivity, Valens sets the standard everywhere
it operates, and its technology forms the basis for the leading industry standards such as HDBaseT® and MIPI A-PHY. For more information,
visit https://www.valens.com/.

Forward-Looking
Statements
This press release includes
“forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,”
“project,” “forecast,” “intend,” “will,” “expect,” “anticipate,”
“believe,” “seek,” “target” or other similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements
regarding our anticipated future results, including financial results, our five-year plan, currency exchange rates, and contract wins,
and future economic and market conditions. These statements are based on various assumptions, whether or not identified in this press
release, and on the current expectations of Valens Semiconductor’s (“Valens”) management and are not predictions of
actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and
must not be relied on by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual
events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances
are beyond the control of Valens Semiconductor. These forward-looking statements are subject to a number of risks and uncertainties, including
the cyclicality of the semiconductor industry; the effect of inflation and a rising interest rate environment on our customers and industry;
the ability of our customers to absorb inventory; competition in the semiconductor industry, and the failure to introduce new technologies
and products in a timely manner to compete successfully against competitors; if Valens fails to adjust its supply chain volume due to
changing market conditions or fails to estimate its customers’ demand; disruptions in relationships with any one of Valens’
key customers; any difficulty selling Valens’ products if customers do not design its products into their product offerings; Valens’
dependence on winning selection processes; even if Valens succeeds in winning selection processes for its products, Valens may not generate
timely or sufficient net sales or margins from those wins; sustained yield problems or other delays or quality events in the manufacturing
process of products; our ability to effectively manage, invest in, grow, and retain our sales force, research and development capabilities,
marketing team and other key personnel; our ability to timely adjust product prices to customers following price increase by the supply
chain; our ability to adjust our inventory level due to reduction in demand due to inventory buffers accrued by customers; our expectations
regarding the outcome of any future litigation in which we are named as a party; our ability to adequately protect and defend our intellectual
property and other proprietary rights; our ability to successfully integrate or otherwise achieve anticipated benefits from acquired businesses;
the market price and trading volume of the Valens ordinary shares may be volatile and could decline significantly; global political and
economic uncertainty, including with respect to China-Taiwan relations; political, economic, governmental and tax consequences associated
with our incorporation and location in Israel; and those factors discussed in Valens’ Form 20-F filed with the SEC on February 26,
2025 under the heading “Risk Factors,” and other documents of Valens filed, or to be filed, with the SEC. If any of these
risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking
statements. There may be additional risks that Valens does not presently know or that Valens currently believes are immaterial that could
also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect
Valens’ expectations, plans or forecasts of future events and views as of the date of this press release. Valens anticipates that
subsequent events and developments may cause Valens’ assessments to change. However, while Valens may elect to update these forward-looking
statements at some point in the future, Valens specifically disclaims any obligation to do so. These forward-looking statements should
not be relied upon as representing Valens’ assessment as of any date subsequent to the date of this press release. Accordingly,
undue reliance should not be placed upon the forward-looking statements.
Press Contacts
Yoni Dayan
Head of Communications
Valens Semiconductor Ltd.
Yoni.dayan@valens.com
Mark Prindle
Senior Account Executive
Fusion PR
Mark.prindle@fusionpr.com
Investor Contacts
Michal Ben Ari
Investor Relations Manager
Valens Semiconductor Ltd.
michal.benari@valens.com