GlobalFoundries Launches Quantum Technology Solutions with $375M Government Support
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
GlobalFoundries Inc. (GF) saw its stock rise by 10.62% as it crossed above the 5-day SMA, following the announcement of its new Quantum Technology Solutions aimed at enhancing the manufacturing capabilities for quantum computing.
The launch of these solutions is backed by a significant $375 million funding commitment from the U.S. Department of Commerce, which reflects the government's focus on national security and the establishment of a domestic quantum manufacturing base. This initiative is expected to position GF as a leader in the quantum technology sector, leveraging its FDX™ platform to support the production of quantum processor units (QPUs).
This strategic move not only enhances GF's competitive edge in the semiconductor industry but also aligns with the growing demand for advanced quantum technologies. The investment is likely to attract further interest from investors and strengthen GF's market position.
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Analyst Views on GFS
Wall Street analysts forecast GFS stock price to fall
11 Analyst Rating
2 Buy
7 Hold
2 Sell
Hold
Current: 89.960
Low
35.00
Averages
41.32
High
48.50
Current: 89.960
Low
35.00
Averages
41.32
High
48.50
About GFS
GlobalFoundries Inc. is a semiconductor manufacturer. The Company offers a range of mainstream wafer fabrication services and technologies. It manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units. Its specialized foundry manufacturing processes include a library consisting of qualified circuit-building block designs (known as IP titles or IP blocks), and advanced transistor and device technology. The Company's differentiated technology platforms include radio frequency (RF) silicon-on-insulator (SOI), Fin Field-Effect Transistor (FinFET), FDX, Complementary Metal-Oxide Semiconductor (CMOS), Silicon Germanium (SiGe), Gallium Nitride (GaN), Bipolar-CMOS-DMOS (BCD), and Silicon Photonics (SiPh).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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