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.
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 fiscal Q3 2024 revenue declined 6% YoY to $1.74B, beating analyst estimate. Adjusted EPS of 41 cents also beat estimate. Mobile revenue grew 11% to $868M. Outlook for Q4 also above estimates.
