On July 30, GLOBALFOUNDRIES Inc. rose 5.63% in regular trading, trading at $49.15/share, with turnover of $30.19 million. The rally follows the announcement of a significant federal funding commitment for the company's silicon photonics research.

On July 29, GLOBALFOUNDRIES Inc. disclosed that it signed a letter of intent with the US Department of Commerce to receive up to $300 million under the CHIPS Research and Development program. The funding is aimed at accelerating next-generation silicon photonics technology, a critical enabler for co-packaged optics (CPO) and high-speed data interconnects. As part of the arrangement, the Department of Commerce will acquire approximately 1% equity in the company. The award forms part of a broader $874 million semiconductor R&D initiative announced by the US government.

The stock had previously declined over 5% on both July 27 and July 28 amid broad semiconductor sector weakness. The federal funding news appears to have reversed that trend, reinforcing investor confidence in the company's strategic positioning in advanced photonics manufacturing.

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