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The premise of being “green” is often perceived as socially beneficial, yet its financial implications remain uncertain. To address this gap, we examine the complex relationship between green technology innovations (GTIs) and corporate financial performance (CFP) in the semiconductor industry. Our research revealed a crucial distinction between the two types of GTIs: proactive and reactive. Proactive GTIs have emerged as strong drivers of positive impact on CFP, positioning themselves as attractive and financially beneficial investments. Conversely, reactive GTIs negatively influence a firm's financial performance, raising questions about its long‐term viability. Additionally, our research goes beyond this core relationship to explore the moderating influence of media coverage on GTI–CFP dynamics by focusing on both print and new media. Interestingly, print media amplifies the favorable connection between GTIs …