The U.S. government plans to divest nearly 10 million shares of GlobalFoundries, even as the semiconductor firm secures hundreds of millions in new federal funding for quantum and photonics research.
The U.S. government filing to sell up to 9.9 million GlobalFoundries shares creates a supply overhang, though the company continues to secure government-backed awards.
The U.S. Department of Commerce has filed to sell up to 9.9 million shares of GlobalFoundries, representing a stake acquired through a $300 million silicon photonics research award. While the divestment creates a potential supply overhang for GFS stock, the company continues to secure significant government funding, including a recent $375 million award for quantum technology development.
The government acquired an equity stake in GlobalFoundries as part of a $300 million award agreement in July 2024, intended to support research and development in silicon photonics and allow the public to share in the company's growth.