GlobalFoundries Inc (GFS) has released an update.
GlobalFoundries Inc. has reported robust financial performance for Q2 2024, with revenues of $1.632 billion and a significant net income of $155 million. The company has emphasized its strong cash flow, recording over $500 million in Non-IFRS adjusted free cash flow for the first half of the year. Alongside financial growth, GlobalFoundries has also expanded its technological reach by acquiring Tagore Technology’s GaN business and partnering with BAE Systems for semiconductor supply enhancements.
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