GFS Shares Surge on Record Volume as Export Penalty Clears and GaN Deal Strikes
By ATTN Desk · Editorial oversight: Sean Han
Introduction
GLOBALFOUNDRIES INC (ticker: GFS) is a multinational semiconductor contract manufacturer domiciled in the Cayman Islands and headquartered in Malta, New York. Established in March 2009 through the divestiture of AMD’s manufacturing arm, the company produces integrated circuits on 200 mm and 300 mm wafers for markets including smart mobile devices, automotive, aerospace and defense, consumer Internet of Things, data centers, and communications infrastructure. As of 2023, GLOBALFOUNDRIES is the third-largest semiconductor foundry by revenue, with fabrication plants located in Singapore, Dresden (Germany), Essex Junction (Vermont), and Malta (New York).
Corporate Structure
GLOBALFOUNDRIES employs approximately 13,000 people across its manufacturing, research, and support operations. The firm is publicly traded on the Nasdaq (“NAS”) exchange under the symbol GFS, with Mubadala Investment Company retaining an 82 percent ownership stake following the company’s initial public offering on October 28, 2021. Its global footprint includes:
- One 200 mm and one 300 mm wafer fab in Singapore
- One 300 mm fab in Dresden, Germany
- One 200 mm fab in Essex Junction, Vermont
- One 300 mm fab in Malta, New York
Semiconductor by Vishnu Mohanan
Recent Developments and News
- October 28, 2021: GLOBALFOUNDRIES completed its IPO on Nasdaq at US$47 per share, raising about US$2.6 billion.
- November 1, 2024: The U.S. Department of Commerce’s Bureau of Industry and Security imposed a US$500,000 civil penalty on GLOBALFOUNDRIES U.S. Inc. and its subsidiary for shipments of semiconductor wafers to a BIS-listed entity without the required authorization.
- November 2025: At the IEDM 2025 conference (November – December 2025), GLOBALFOUNDRIES presented technical contributions in SiGe BiCMOS communications, 22FDX FRAM, and ferroelectric device technologies.
- LinkedIn Announcement (undated, post-IEDM 2025): GLOBALFOUNDRIES and onsemi entered into an agreement to develop and manufacture gallium nitride (GaN) power devices for AI data centers, automotive, and industrial applications.
- December 11, 2025: Filing of Form 6-K (SEC Accession No. 0001709048-25-000078) with supplemental materials including press releases on financial results and strategic updates.
- December 23, 2025: The share price closed at US$36.74, up 0.88 percent, on a volume of 204,446 shares (average daily volume: 696 shares; volume rate: +9999.99 percent).
Financial and Strategic Analysis
GLOBALFOUNDRIES reported trailing twelve-month revenue of US$6.79 billion and a net loss of US$44 million (EPS: –0.08). The company’s market capitalization stood at approximately US$20.24 billion, with total cash of US$3.28 billion and a debt-to-equity ratio of 14.13 percent as of the most recent period. Key financial ratios include:
| Metric | Value |
|---|---|
| Forward P/E (NTM) | 18.42 |
| Price/Sales (TTM) | 2.99 |
| Price/Book (MRQ) | 1.74 |
| Enterprise Value/Revenue | 2.75 |
| Levered Free Cash Flow (TTM) | US$1.29 billion |
Strategically, the company shifted focus from cutting-edge performance nodes in 2018 by cancelling its 7 nm process to concentrate on differentiated specialty technologies. Divestiture activities in 2019 included the sale of its Singapore Fab 3E for US$236 million and the New York Fab 10 for US$430 million. The partnership with onsemi for GaN power devices aligns with GLOBALFOUNDRIES' focus on energy-efficient power platforms amid rising demand across AI, automotive, and industrial sectors.
Market Position and Industry Context
Within the global foundry landscape, GLOBALFOUNDRIES is recognized as one of the top five pure-play manufacturers, alongside TSMC and Samsung. Its manufacturing footprint across the United States, European Union, and Singapore aids in accessing government funding initiatives aimed at reinforcing domestic semiconductor capacity. The company is designated as a “Trusted Foundry” in the U.S., Singapore, and Germany, which enables supply agreements with customers in defense and communications sectors that require compliance with Common Criteria (ISO 15408) certification.
tl;dr
On December 23, 2025, GLOBALFOUNDRIES shares closed at US$36.74, supported by significant trading volume. Following a US$500,000 export-control penalty resolved on November 1, 2024, the company highlighted its presentations at the IEDM 2025 and its collaboration with onsemi for GaN power devices. A Form 6-K filing on December 11, 2025, provided updated financial information in advance of the Q4 2025 earnings release. A forward P/E of 18.42 reflects market expectations of returning to profitability, supported by ongoing demand for mature-node semiconductors and government incentives for domestic manufacturing.