Why GlobalFoundries (GFS) Shares Are Trading Higher Today - GLOBALFOUNDRIES (NASDAQ:GFS), Qualcomm (NASDAQ:QCOM), Manchester United (NYSE:MANU)

GlobalFoundries Inc GFS and Qualcomm Technologies, Inc QCOM more than doubled their existing strategic global long-term semiconductor manufacturing agreement.
The agreement secured wafer supply and commitments to support U.S.-based manufacturing through capacity expansion at GF's most advanced semiconductor manufacturing facility in Malta, New York.
It extends Qualcomm Global Trading Pte Ltd's (QGT) U.S.-based collaboration with GF in FinFET for 5G transceivers, Wi-Fi, Automotive, and IoT connectivity.
Also Read: Intel, TSMC, Other Chipmakers Get Big Shot In Arm As US Approves Highly Anticipated $280B CHIPS Act
In 2021, QGT was one of GF's first customers to secure their supply with a long-term agreement covering multiple geographies and technologies.
That agreement secured 22FDX capacity at GF's Dresden facility. It will include capacity at GF's recently announced facility in Crolles, France, making QGT an anchor customer in GF's leading European proprietary technology.
QGT has also secured capacity in GF's 8SW radio-frequency silicon-on-insulator (RFSOI) technologies for Sub 6GHz 5G front-end module (FEM), primarily manufactured in GF's Singapore facilities.
"With accelerating demand for 5G, Automotive and IoT applications, a robust supply chain is critical for ensuring innovation in these areas remains uninterrupted," said Dr. Roawen Chen, SVP, Qualcomm.
Price Action: GFS shares traded higher by 7.85% at $57.26 on the last check Monday.
Photo via Wikimedia Commons

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GlobalFoundries Shares Gain Following Qualcomm Collaboration To Double Chip Manufacturing