GlobalFoundries Secures $9.5 Million in Federal Funding to Advance GaN Chip Manufacturing-March 2024-www.financetom.com

GlobalFoundries Secures $9.5 Million in Federal Funding to Advance GaN Chip Manufacturing

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GlobalFoundries Secures $9.5 Million in Federal Funding to Advance GaN Chip Manufacturing

Dec 4, 2024 7:53 AM

10:16 AM EST, 12/04/2024 (MT Newswires) -- GlobalFoundries ( GFS ) said Wednesday it has received an additional $9.5 million in federal funding to enhance its gallium nitride, or GaN, semiconductor production at its facility in Essex Junction, Vermont.

The funding moves the company closer to large-scale production of GaN chips, GlobalFoundries ( GFS ) said.

With their ability to high voltages and temperatures, GaN chips are essential for a range of radio frequency and high-power applications in the automobile, datacenter, aerospace and defense sectors, the company said.

Shares of GlobalFoundries ( GFS ) were up 0.7% in recent Wednesday trading.

Price: 44.66, Change: +0.03, Percent Change: +0.07

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