Movement Alert|GLOBALFOUNDRIES Inc. Rises 5.47% in Pre-Market Trading on Xanadu Quantum Manufacturing Partnership

Market Focus
Oct 08

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.

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