Globalfoundries Shares Soar 1.46% on MIPS Acquisition

Globalfoundries(GFS) shares experienced a notable intraday gain of 1.46%, reaching their highest level since February 2025, despite a 1.61% decline in the overall market sentiment.

GlobalFoundries' recent acquisition of MIPS, a prominent supplier of artificial intelligence (AI) and processor intellectual property (IP), has been a significant driver for its stock price. This strategic move aims to bolster GlobalFoundries' product portfolio by integrating RISC-V processor IP, thereby enhancing its capabilities in AI and compute technologies. The acquisition is expected to support a wide range of applications across various sectors, including automotive, industrial, and data center infrastructure. This expansion is seen as a pivotal step towards driving innovation in the AI space and strengthening GlobalFoundries' competitive position in the market.