DETROIT—With the global shortage of semiconductors still crimping U.S auto production, General Motors has signed a deal with chipmaker GlobalFoundries to dedicate part of an upstate New York factory to supply the automaker. In a joint statement from the companies Thursday, Malta, New York-based GlobalFoundries said it will expand production capacity inside its Malta plant…
Qualcomm to Spend $4.2 Billion More on Chips From GlobalFoundries
Qualcomm agreed to buy an additional $4.2 billion in semiconductor chips from GlobalFoundries’s New York factory, bringing its total commitment to $7.4 billion in purchases through 2028, according to a filing released Monday. The announcement expands on a prior $3.2 billion purchasing agreement between the two companies and will produce chips for use in 5G…
GlobalFoundries Posts 56 Percent Rise in Quarterly Sales on Booming Chip Demand
GlobalFoundries posted a 56 percent rise in revenue on Tuesday, in its first earnings update after going public in October, as the global semiconductor shortage drives companies to secure supplies of chips used in everything from cars to mobile phones. The company makes silicon wafers for chip designers, such as Advanced Micro Devices and Broadcom…
GlobalFoundries Is at the Right Place, at the Right Time, BofA Says
GlobalFoundries Inc. is well-positioned with only a 10 percent share of an addressable market opportunity estimated at $70 billion, across smartphone devices, Internet of things, automotive and data center, according to Bank of America (BofA) Securities. GlobalFoundries Analyst Vivek Arya initiated coverage of GlobalFoundries with a Buy rating and a price target of $88. GlobalFoundries Thesis…
GlobalFoundries Shares Pop as Analysts Initiate Coverage; See up to 61 Percent Upside
Multiple analysts initiated coverage on GlobalFoundries Inc. Credit Suisse analyst John Pitzer initiated coverage with an Outperform and $75 price target, implying a 20.8 percent upside. The analyst says the benefits of the company’s 2018 strategic pivot from “bleeding edge” to “pervasive” are just now inflecting and sees semi-cyclical and foundry secular tailwinds for GlobalFoundries….
Ford Teams Up With Chip Giant GlobalFoundries to Boost US Semiconductor Supply
November 18, 2021
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Ford Motor Co. and U.S.-based chip maker GlobalFoundries have announced a strategic deal that will see the two companies join forces on seeking to boost semiconductor manufacturing and technology development within the United States. The two companies said in a joint release that their “strategic collaboration,” based on a non-binding agreement that does not involve cross-ownership…
Why Are GlobalFoundries Shares Trading Lower Today?
The Pentagon plans to place up to $2 billion in rush orders by early March for customized semiconductors used in weapons like the B-2 bomber before the shut down of production line, Bloomberg reports. Globalfoundries Inc (GFS) sold the factory in Fishkill, New York, that produced the specialized chips used in GPS-dependent systems to ON…
Chipmaker GlobalFoundries Valued at $26 Billion in Lackluster Nasdaq Debut
Shares of GlobalFoundries Inc, which is owned by Abu Dhabi’s sovereign wealth fund Mubadala Investment Co, opened flat on the Nasdaq on Thursday, giving the chipmaker a market capitalization of about $26 billion. GlobalFoundries finished its first day of trading at $46.40, slightly lower than the $47 per share it priced in the initial public…
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