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Globalfoundries $GFS stock moved 11% higher on August 8, 2022, after Qualcomm announced they would more than double their global long-term semiconductor manufacturing agreement.

Bullish Option Flow In $GFS Stock

Guerilla Stock Trading detected bullish option flow in $GFS stock on August 8, 2022.

Make sure to review this lesson on option flow so that you understand the image above.

Volume and open interest have surged higher in the October 21, 2022, $80 call.

Dark Pool Trades Detected In $GFS Stock

The dark pool trades over the last month suggest a large institutional investor was buying over dark pools to hide their activities. The fact that $GFS stock has risen so much since the dark pool trades were posted suggests that they were buy orders. The largest institutional investors in this stock are FMR, Matrix Capital Management, and Blackrock.

📺 ‘It’s better to expand facilities’ than create new chip foundries, says GlobalFoundries CEO

GlobalFoundries to seek government funding for Vermont chip plant, Reuters says

On August 8, 2022, GlobalFoundries CEO Tom Caulfield told Reuters that the company plans to seek U.S. government funding from the recently approved CHIPS Act to update its chip factory in Vermont. Caulfield is quoted as having said: “With partnership investments with the U.S. government, we can create a facility that has been around for 50, 60 years and give it its next 50, 60 years of longevity.” Source: https://www.marketscreener.com/quote/stock/GLOBALFOUNDRIES-INC-128691269/news/GlobalFoundries-to-seek-CHIPS-Act-funds-for-Vermont-chip-plant-41242220/

GlobalFoundries and Qualcomm Announce Extension of Long-term Agreement to Secure U.S. Supply through 2028

On August 8, 2022, Following the recent passage of the U.S. CHIPS and Science Act last week, GlobalFoundries announced they are more than doubling their existing strategic global long-term semiconductor manufacturing agreement previously entered into by GF’s and Qualcomm’s respective subsidiaries. Today’s announcement secures 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.

The announcement was made in Washington D.C. at a CEO Summit co-hosted by GF, Ford Motor Company, and Applied Materials, which included National Economic Council Director Brian Deese, Under Secretary of Defense for Acquisition & Sustainability Dr. William LaPlante, and National Security Council Senior Director for Technology & National Security, Tarun Chhabra underscoring the importance of domestic manufacturing to national and economic security. The Summit included CEOs and senior leaders across the semiconductor supply chain, from tool and wafer manufacturers to key suppliers to end users of chips manufactured in the U.S.

GF has been manufacturing Qualcomm Technologies’ feature-rich, high-performance chips for many years, reaching across its global footprint. In 2021, Qualcomm Global Trading Pte. Ltd (QGT), a subsidiary of Qualcomm Technologies, 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 now 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 market-leading 8SW radio-frequency silicon-on-insulator (RFSOI) technologies for Sub 6GHz 5G front-end module (FEM), which will be primarily manufactured in GF’s Singapore facilities, where site expansion plans are well underway with full ramp expected in early 2023.

Today’s announcement explicitly extends QGT’s U.S.-based collaboration with GF in FinFET for 5G transceivers, Wi-Fi, Automotive, and IoT connectivity. GF’s FinFET platforms provide a best-in-class combination of performance, power, and area well-suited for high-end Mobile, Automotive, and IoT applications.

“This is terrific news for GlobalFoundries, Qualcomm Technologies, and for upstate New York. Just days after we passed my historic, bipartisan CHIPS & Science bill, we can already see the semiconductor industry reinvesting in the United States. This deal to 2028 proves what we have always known – that the industry will grow here when we are competitive with Asia and Europe. With major new federal incentives for microchip manufacturing in the U.S., I look forward to many more announcements like this to come,” said Senate Majority Leader Chuck Schumer

“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, Senior Vice President, and Chief Supply Chain and Operations Officer, Qualcomm Technologies, Inc. “Our continued collaboration with GF helps us to expand the next generation of wireless innovation as we move toward a world where everyone and everything can be intelligently connected.”

“GF’s global manufacturing footprint enables us to partner with our customers to meet their capacity needs, where they need it,” said Dr. Thomas Caulfield, president, and CEO of GF. “Our collaboration with Qualcomm Technologies delivers differentiation and innovation in mobile and IoT spanning three continents, and this long-term agreement extension provides Qualcomm Technologies with additional U.S. based manufacturing for a more resilient supply chain.”

“Today’s announcement from our CEO Summit in Washington, D.C. secures Qualcomm Technologies as a key long-term customer through 2028 in our most advanced fab in upstate New York, which, together with U.S. CHIPS and state funding, will fuel expanding GF’s U.S. manufacturing footprint. We applaud the bipartisan efforts and leadership demonstrated by Senator Schumer and the incredible support of Commerce Secretary Raimondo to bring back chip manufacturing to America,” added Dr. Caulfield.

The global demand for semiconductors is growing at an unprecedented rate. GF is responding to this growth through long-term strategic agreements with existing and new customers and simultaneously expanding global capacity to meet customer demand in partnership with federal and local governments. Today’s announcement with Qualcomm Technologies is a crucial step consistent with this collaborative model.

GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high-growth markets. GF offers a unique mix of design, development, and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe, and Asia, GF is a trusted technology source to its worldwide customers.

📈 Globalfoundries $GFS Chart

It’s a giant sideways pattern with $GFS stock trading at only around $10 above its IPO price back at the end of October 2021. From a fundamental perspective, the WEF’s Great Reset needs a rapid expansion of cheap and efficient microchip production. At some point soon, we see $GFS taking a run back to test its $80 resistance level.