TD Cowen Sees $2B Funding for Quantum Ecosystem as Positive for GFS, QBTS, RGTI
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
TD Cowen views the Department of Commerce's letters of intent with nine quantum ecosystem companies for $2B of funding and in exchange for equity stakes as a positive for GlobalFoundries (GFS), D-Wave Quantum (QBTS), and Rigetti Computing (RGTI). The awards along with the structuring of the investments "underscore the strategic value" that quantum computing holds for the national defense strategy and long-term value creation that the Department of Commerce believes it can realize as these companies grow, the analyst tells investors in a research note. TD believes the news can "further shift the industry narrative away from experimental lab projects and towards disruptive growth companies aiming for time-to-market leadership."
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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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