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Benzinga
Benzinga
Business
Nabaparna Bhattacharya

What's Going On With GlobalFoundries Stock Wednesday?

GlobalFoundries Inc. (NASDAQ:GFS) announced on Wednesday that it has secured an additional $9.5 million in federal funding from the U.S. government to advance the production of Gallium Nitride (GaN) on silicon semiconductors at its Essex Junction, Vermont facility.

This funding brings the company closer to large-scale manufacturing of GaN chips, which are pivotal for high-performance, energy-efficient applications across industries such as automotive, aerospace, defense, and datacenters.

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