🟢 GFS is trading 4% up today, extending a multi-day rally on $375M federal quantum award

GFS is trading at $84.90 (up 4%) in after-hours trading, extending a sharp ~21% gain since May 20 following a strong two-day rally.

• GlobalFoundries has launched Quantum Technology Solutions, a new business unit designed to scale U.S. manufacturing capabilities for quantum computing hardware.
• The initiative is supported by a proposed $375 million CHIPS Act funding award from the U.S. Department of Commerce, which will also take a ~1% strategic equity stake in the company.