GlobalFoundries, Marvell shares rise on expanded deal
GFS•Expanded collaboration lifts both chip stocks
Shares of chip firms GlobalFoundries (GFS.O) and Marvell Technology (MRVL.O) rose before the bell.
The companies expand their agreement to increase production capacity for a type of semiconductor used in high-speed optical connections in data centers.
"Our expanded collaboration with GF will help ensure we have the SiGe technology and manufacturing capacity to support the significant growth we see ahead" — Robb Johnson, vice president, foundry technology at Marvell.
Shares of GlobalFoundries rose 5% to $45.18 and Marvell up 4.6% at $240.44.
Up to last close, GFS had risen about 23%, while MRVL rose about 170% this year.
