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2021-10-29

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GlobalFoundries shares opened around $46.7, or 0.64% below $47 IPO price.

GlobalFoundries shares opened around $46.7, or 0.64% below $47 IPO price. GlobalFoundries employs 3

GlobalFoundries shares opened around $46.7, or 0.64% below $47 IPO price.

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The facility is the company's most advanced chip factory. GlobalFoundries is planning a second one at the Fab 8 site within the next few years.</p>\n<p>CEO Tom Caulfield, a native New Yorker, also moved the company's headquarters from Silicon Valley to Malta earlier this year, a move that U.S. Senate Majority Leader Charles Schumer has been asking the company to do for years.</p>\n<p>GlobalFoundries also took over the chipmaking operations of IBM as well, although that deal ended up in a recent legal battle, with IBM accusing GlobalFoundries of falling short on its promises under the agreement.</p>\n<p>The rise of GlobalFoundries from startup to global chip foundry coincides with the consolidation of the chip industry, leaving only a few major players that still own and operate chip factories, or fabs, that can cost up to $10 billion each.</p>\n<p>The other major manufacturers are Intel, Samsung and Taiwan Semiconductor Manufacturing Co., or TSMC, all of which are substantially larger than GlobalFoundries.</p>\n<p>However, GlobalFoundries has important Department of Defense contracts.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GFS":"GLOBALFOUNDRIES Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124317794","content_text":"GlobalFoundries shares opened around $46.7, or 0.64% below $47 IPO price.\n\nGlobalFoundries employs 3,000 people at its Fab 8 campus in Saratoga County, home to its headquarters and its most advanced chip factory.\nUntil now, GlobalFoundries has been privately owned by the government of Abu Dhabi through a sovereign wealth fund known as Mubadala Investment Co.\nLooking to diversify its oil-focused economy, Abu Dhabi provided much of the initial investment to create GlobalFoundries more than a decade ago as a spinoff from Advanced Micro Devices into a so-called foundry that would not only make AMD's chips but also chips for other companies.\nGlobalFoundries essentially took AMD's factories around the world off its hands and then built Fab 8 at the Luther Forest Technology Campus in Malta. 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