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Wajeeh Khan

A $2 Billion Reason Why GlobalFoundries Stock Is Up Today

GlobalFoundries GFS TSMC

GlobalFoundries (GFS) stock is pushing higher on Thursday after the chipmaker inked a $2 billion, five-year manufacturing agreement with TSMC (TSM) to produce silicon interposers for advanced artificial intelligence (AI) chip packaging in the U.S. The deal calls for GlobalFoundries to expand capacity at its New York facility, with volume production expected to ramp in the first half of 2028.

Despite today’s gains, GlobalFoundries shares remain down roughly 45% versus their year-to-date high in late June.

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