4 hours ago
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Keith Noonan, The Motley Fool
Sun, May 24, 2026 astatine 1:04 PM CDT 3 min read
GlobalFoundries (NASDAQ: GFS) banal rocketed higher successful this week's trading. The semiconductor company's stock terms gained 20.6% crossed the period. Meanwhile, the S&P 500 index's level accrued 0.9%, and the Nasdaq Composite's level was up 0.5%.
GlobalFoundries banal saw large gains this week successful conjunction with the announcement of caller quantum computing initiatives and the announcement of large caller enactment for the quantum manufacture from the U.S. government. The company's banal is present up 145% successful 2026.
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GlobalFoundries soars connected large quantum quality
On May 21, GlobalFoundries published a property merchandise announcing the motorboat of Quantum Technology Solutions -- a caller concern portion wrong the institution focusing connected manufacturing tech for the quantum computing industry. Along with the announcement, the institution revealed that it had secured a missive of intent for a $375 cardinal concern from the U.S. Department of Commerce. The concern volition spot the Department of Commerce investing straight successful GlobalFoundries, and the institution volition usage the concern superior to bolster its manufacturing capabilities for quantum tech.
What's adjacent for GlobalFoundries?
GlobalFoundries is gearing up to summation its quality to manufacture full-stack quantum computing solutions. The institution is making moves to guarantee that it tin nutrient quantum processor units, cryogenic read-out and power integrated circuits, and packaging and superconducting solutions.
In effect to the Quantum Technology Solutions announcement and Department of Commerce Investment news, TD Cowen named Global Foundries 1 of the 3 biggest winners of the U.S. government's latest quantum investing propulsion -- alongside Rigetti Computing and D-Wave Quantum. With GlobalFoundries receiving a large ballot of assurance from the U.S. government, the institution is emerging arsenic a apical pick-and-shovel play successful the quantum space.
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