GlobalFoundries Submits Applications For U.S. CHIPS And Science Act Funding; Applications Are For Capacity Expansion And Modernization Of Co's U.S. Manufacturing Facilities
Portfolio Pulse from Benzinga Newsdesk
GlobalFoundries (NASDAQ:GFS) has applied for U.S. CHIPS and Science Act Funding, aiming to expand and modernize its U.S. manufacturing facilities. The company is a leading manufacturer of essential semiconductors for the U.S. government and various markets including automotive, aerospace and defense, IoT, and others.
September 25, 2023 | 2:04 pm
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GlobalFoundries' application for U.S. CHIPS and Science Act Funding could lead to expansion and modernization of its U.S. manufacturing facilities, potentially boosting its production capabilities.
If GlobalFoundries secures the funding, it could significantly enhance its manufacturing capabilities in the U.S., potentially leading to increased production and revenues. This could positively impact the company's stock price in the short term.
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