On October 8, GLOBALFOUNDRIES Inc. rose 5.47% in pre-market trading, with shares trading at $50.63 and turnover of $5.4967 million.

The move follows Xanadu Quantum Technologies' announcement of a multiyear partnership with GlobalFoundries to scale production of advanced photonic components for utility-scale quantum computing, initially industrializing Xanadu's superconducting nanowire single-photon detectors and ultra-low-loss silicon nitride photonics on GlobalFoundries' 300mm production line. Financial terms were not disclosed.

GlobalFoundries Inc., a semiconductor foundry, provides mainstream wafer fabrication services and technologies worldwide, manufacturing devices including microprocessors, baseband processors, and power management units.

(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.)