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GlobalFoundries Inc. Ordinary Shares - GFS STOCK NEWS

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GlobalFoundries Inc. (GFS) is a prominent player in the semiconductor industry, recognized as the world's first full-service semiconductor foundry with a truly global footprint. Launched in March 2009, the company has rapidly scaled to become one of the largest foundries globally, serving over 250 customers. With operations in Singapore, Germany, and the United States, GlobalFoundries offers unmatched flexibility and security through its manufacturing centers across three continents. The company's 300mm and 200mm fabrication facilities provide a comprehensive range of process technologies, from mainstream to the leading edge.

Headquartered in Malta, New York, GlobalFoundries was originally the manufacturing wing of Advanced Micro Devices (AMD) before becoming an independent entity in 2009. The company merged with Chartered Semiconductor Manufacturing in the same year and acquired IBM's chipmaking business in 2015. Currently, GlobalFoundries employs approximately 12,000 people and continues to be a cornerstone in the semiconductor supply chain, particularly for mature process technologies.

GlobalFoundries focuses on several key markets including smartphones, PCs, Internet of Things (IoT), data centers, automotive, industrial, and more. The company was privately held by Mubadala Investment, the sovereign wealth fund of the United Arab Emirates, until its public offering in 2021. This unique mix of design, development, and fabrication services ensures that GlobalFoundries remains a trusted technology source for its worldwide clientele.

Among its recent achievements, GlobalFoundries received $1.5 billion in planned direct funding from the U.S. Department of Commerce as part of the U.S. CHIPS and Science Act. This investment aims to enhance the company's manufacturing capacity to produce essential chips for automotive, IoT, aerospace, defense, and other critical markets. Additionally, GlobalFoundries has announced its plans to invest over $12 billion in its U.S. sites over the next decade, backed by public-private partnerships and support from federal and state governments.

The company has also committed to workforce development, collaborating with various educational institutions and community colleges to create a diverse talent pipeline. This includes a new student loan repayment program and partnerships with universities to cultivate future semiconductor professionals.

In terms of sustainability, GlobalFoundries is committed to sustainable operations and has integrated its expansion plans with its sustainability goals. This commitment is evident in its design and construction initiatives, ensuring that all expansions and modernizations align with environmentally sustainable practices.

For more information about GlobalFoundries, visit their official website at www.globalfoundries.com.

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ElevATE Semiconductor and GlobalFoundries (GF) have announced a partnership to manufacture high-voltage chips at GF's facility in Essex Junction, Vermont, leveraging GF's proven 7HV semiconductor platform. This collaboration aims to meet the growing demand in commercial semiconductor testing and aerospace and defense systems. The 7HV chips, produced on 200mm wafers, offer power management and wireless sensing capabilities, important for various electronic devices in national security systems. This agreement emphasizes GF's commitment to providing a reliable supply of secure, domestically manufactured chips, supporting U.S. semiconductor and national security ecosystems. The partnership will help ElevATE transition its fabrication processes to GF, ensuring robust supply and meeting escalating customer demands.

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GlobalFoundries (Nasdaq: GFS) has been named to USA Today's 'America's Climate Leaders 2024' list, recognizing the company's commitment to sustainability. This accolade is part of GF's broader efforts, including a pledge to achieve net-zero greenhouse gas emissions and 100% carbon-neutral power by 2050. The company aims for a 25% reduction in emissions by 2030, aligned with the Paris Agreement goals. GF has also been recognized by Morningstar Sustainalytics, ISS, and Newsweek for its ESG performance and corporate responsibility.

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GlobalFoundries (Nasdaq: GFS) announced a $950 million secondary offering of its ordinary shares priced at $50.75 per share. Mubadala Technology Investment Company, GF's largest shareholder, is the selling shareholder. The offering includes a concurrent $200 million share repurchase by GF. The underwriters have a 30-day option to purchase an additional $112.5 million of shares. The offering closes on May 28, 2024, under customary conditions. GF will not receive any proceeds from the sale. The share repurchase will be funded by GF's cash reserves, with no underwriting discounts or commissions applied. Lead managers include Morgan Stanley, BofA Securities, Citigroup, Goldman Sachs, and J.P. Morgan.

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GlobalFoundries (Nasdaq: GFS) announced a $950 million secondary public offering of its ordinary shares, including a concurrent $200 million share repurchase. All shares are offered by Mubadala Technology Investment Company, GlobalFoundries' largest shareholder. An additional $112.5 million worth of shares may be purchased by underwriters within 30 days. GlobalFoundries will not receive proceeds from the sale but will fund the share repurchase using its own cash reserves. Morgan Stanley & Co. and BofA Securities are managing the offering, with relevant documents filed with the SEC.

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GlobalFoundries (Nasdaq: GFS) has announced a partnership with Micron Technology (Nasdaq: MU) and the U.S. National Science Foundation (NSF) to support semiconductor workforce development at Minority Serving Institutions (MSI). This initiative aims to diversify the semiconductor workforce by investing in education and career reentry programs at Historically Black Colleges and Universities, Hispanic Serving Institutions, Asian American Native American Pacific Islander-Serving Institutions, and Tribal Colleges across the U.S. The partnership aligns with the objectives of the federal CHIPS and Science Act and New York State's Green Chips legislation. Prominent figures like Senate Majority Leader Chuck Schumer have endorsed this initiative, emphasizing its potential to create jobs and foster the next generation of semiconductor talent through internships, education, and training programs.

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GlobalFoundries Inc. (GF) reported strong financial results for Q1 2024 with revenue of $1.549 billion, a gross margin of 25.4%, and net income of $134 million. The company's dedication to innovation and differentiation in the semiconductor industry led to surpassing earnings guidance. GF also secured significant funding from the U.S. Department of Commerce and New York State for expansion projects. Additionally, the company committed to achieving net-zero greenhouse gas emissions and 100% carbon-neutral power by 2050, aligning with global climate goals.

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GlobalFoundries (Nasdaq: GFS) commits to achieving net-zero greenhouse gas emissions and 100% carbon-neutral power by 2050, aligning with the Paris Agreement goals. The company aims to reduce emissions by 25% from 2020 to 2030 and has already initiated energy efficiency improvements and alternative chemistry projects. Dr. Thomas Caulfield, GF's president and CEO, emphasizes the importance of taking action against climate change. GF plans to achieve its goals by implementing state-of-the-art emissions controls, utilizing alternative chemistries, and working with partners to reduce emissions throughout its value chain.
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GlobalFoundries (GFS) to host conference call on May 7, 2024, following the release of first quarter 2024 financial results.
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GlobalFoundries (Nasdaq: GFS) secures $1.5 billion investment for expansion and modernization of facilities in New York and Vermont, enhancing chip manufacturing capabilities for automotive and other key markets. The investment will support the creation of new state-of-the-art fabs and drive growth in essential chip production.
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GlobalFoundries Inc. (GFS) announces strong financial results for Q4 2023 and FY 2023 with revenue of $1.854 billion and $7.4 billion respectively. Key highlights include net income of $278 million for Q4 and $1.0 billion for FY 2023. The company also achieved adjusted EBITDA of $773 million for Q4 and $2.8 billion for FY 2023. Recent business highlights include a new agreement with Infineon, federal funding for GaN chip manufacturing, and recognition on Newsweek's 'America's Most Responsible Companies' list.
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FAQ

What is the current stock price of GlobalFoundries Ordinary Shares (GFS)?

The current stock price of GlobalFoundries Ordinary Shares (GFS) is $36.01 as of November 4, 2024.

What is the market cap of GlobalFoundries Ordinary Shares (GFS)?

The market cap of GlobalFoundries Ordinary Shares (GFS) is approximately 20.0B.

What does GlobalFoundries Inc. do?

GlobalFoundries is a full-service semiconductor foundry providing manufacturing, design, and development services to over 250 customers worldwide.

Where are GlobalFoundries' manufacturing facilities located?

GlobalFoundries operates manufacturing facilities in Singapore, Germany, and the United States.

What markets does GlobalFoundries serve?

The company serves various markets including smartphones, PCs, Internet of Things (IoT), data centers, automotive, and industrial applications.

Who owns GlobalFoundries?

GlobalFoundries was privately held by Mubadala Investment, the sovereign wealth fund of the United Arab Emirates, until it went public in 2021.

What recent funding has GlobalFoundries received?

GlobalFoundries received $1.5 billion in planned direct funding from the U.S. Department of Commerce as part of the CHIPS and Science Act.

How many employees does GlobalFoundries have?

GlobalFoundries employs approximately 12,000 people.

What are GlobalFoundries' sustainability goals?

GlobalFoundries is committed to sustainable operations, integrating its expansions and modernizations with environmentally sustainable practices.

How is GlobalFoundries investing in workforce development?

The company collaborates with educational institutions and community colleges to build a diverse talent pipeline and offers programs like student loan repayment and apprenticeships.

When was GlobalFoundries established?

GlobalFoundries was launched in March 2009 after spinning off from Advanced Micro Devices (AMD).

Where is GlobalFoundries headquartered?

GlobalFoundries is headquartered in Malta, New York, United States.

GlobalFoundries Inc. Ordinary Shares

Nasdaq:GFS

GFS Rankings

GFS Stock Data

19.95B
555.51M
105.78%
2.24%
Semiconductors
Technology
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United States of America
Malta