On July 31, GLOBALFOUNDRIES Inc. rose 5.31% in pre-market trading, trading at $51.8846/share, with turnover of $1.0631 million.

On the news front, the US National Institute of Standards and Technology confirmed that the CHIPS Research and Development Office has signed letters of intent with seven companies for a total of $874 million in federal funding, with GLOBALFOUNDRIES Inc. receiving up to $300 million to advance next-generation silicon photonics technology. As a condition of the funding, the Department of Commerce will acquire approximately 1% equity in the company.

The funding targets silicon photonics and co-packaged optics (CPO) technologies, which use laser-based data transmission between chips to deliver higher bandwidth and significantly lower power consumption for AI data centers. GLOBALFOUNDRIES Inc. stated it plans to boost data transmission speeds to 400Gb/s while achieving up to five times the energy efficiency of current solutions. The award is part of the CHIPS and Science Act R&D incentives, following prior government commitments of $150 million for semiconductor manufacturing equipment and $2 billion for quantum computing.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)