Welcome to our dedicated page for Globalfoundries news (Ticker: GFS), a resource for investors and traders seeking the latest updates and insights on Globalfoundries stock.
GlobalFoundries Inc. (Nasdaq: GFS) generates a steady flow of news that reflects its role as a manufacturer of essential semiconductors for automotive, smart mobile devices, internet of things, and communications infrastructure and data center markets. This news page aggregates company announcements, industry collaborations, technology updates and financial disclosures related to GFS.
Readers can find updates on GlobalFoundries’ strategic moves in areas such as Physical AI, silicon photonics, GaN power technologies and processor IP. Recent releases include a definitive agreement to acquire Synopsys’ ARC Processor IP Solutions business, integration plans with MIPS for RISC-V and AI-focused platforms, and the acquisition of Advanced Micro Foundry in Singapore to expand silicon photonics capabilities for AI datacenters and communications.
The company also issues news on partnerships and customer engagements, such as BAE Systems using GF’s advanced FinFET technology for space applications, and technology licensing agreements like the GaN collaboration with TSMC to support datacenter, industrial and automotive power devices. In addition, GlobalFoundries regularly announces events for investors and analysts, including earnings conference calls, financial results and strategy webinars focused on Physical AI and high-growth applications.
By following this GFS news feed, investors and observers can track developments in GF’s global manufacturing footprint across the U.S., Europe and Asia, its end-market focus in automotive, IoT and communications, and its evolving roadmap in silicon photonics, GaN and RISC-V processor IP. This page offers a centralized view of GlobalFoundries’ public communications, from governance and leadership changes to technology milestones and capacity expansion plans.
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.
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.
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.
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.
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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