Globalfoundries Inc is a prominent semiconductor foundry that specializes in providing manufacturing services for integrated circuits
The company plays a crucial role in the global electronics supply chain, serving a wide range of clients in various sectors, including automotive, telecommunications, and consumer electronics. With advanced manufacturing capabilities, Globalfoundries focuses on the design and production of innovative semiconductor solutions, helping its customers bring cutting-edge technologies to market. The company is committed to delivering high-quality processes and services that meet the evolving demands of the technology landscape.
While the brokerage noted that GlobalFoundries' first-quarter (Q1) guidance was below expectations, it observed that the company's long-term growth outlook remains constructive.
GlobalFoundries reported $1.83B revenue, beating analyst estimates. Adjusted EPS of 46 cents also beat expectations. CEO optimistic about strong design win momentum and plans to develop advanced packaging and test capabilities. Q1 outlook lower than expected.
GlobalFoundries said that this facility will manufacture, process, package, and test its chips entirely onshore in the U.S., in line with the government’s efforts to attract companies to make crucial semiconductor chips in the country.
GlobalFoundries shares are trading higher on Friday after the company announced plans to create a new center for advanced packaging and testing of US-made essential chips.
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GlobalFoundries secures $9.5M in funding from U.S. gov to advance production of GaN chips. GaN offers superior capabilities for high-performance, energy-efficient applications.
