GlobalFoundries Surges 20.85% After U.S. $2 Billion Quantum Grant
GFS•GlobalFoundries shares jumped 20.85% this week after the U.S. government announced a $2 billion quantum computing grant program for nine companies. The funding announcement has rekindled investor demand in quantum hardware names, propelling GlobalFoundries ahead of peers Rigetti and D-Wave.
1. Quantum Grant Program
The U.S. government announced a $2 billion quantum computing grant pool for nine firms under the CHIPS and Science Act, aimed at boosting accuracy and commercial viability of quantum hardware. GlobalFoundries is named as a beneficiary, positioning its fabrication facilities to support next-generation qubit production.
2. Stock Performance Surge
GlobalFoundries shares rallied 20.85% over the week, leading quantum computing names after the grant announcement. The gain outpaced peers like Rigetti and D-Wave, reflecting renewed speculative interest in semiconductor providers.
3. Sector Outlook
Government funding has reinvigorated investor appetite for quantum hardware, driving sector rotation from traditional tech to specialized foundries. GlobalFoundries’ scale and capacity could translate the funding into longer-term contracts with research institutes and data center operators.
