Movement Alert｜GLOBALFOUNDRIES Rises 5.09% in Pre-Market Trading, Strategic AI Photonics Partnership with Sivers Semiconductors Boosts Sentiment

Market Focus06-02

On June 2, GLOBALFOUNDRIES rose 5.09% in pre-market trading, trading at $83.5/share, with trading volume of $1.7394 million.

On the news front, Sivers Semiconductors AB announced a strategic partnership with GLOBALFOUNDRIES to jointly develop AI-focused photonics solutions. The collaboration aims to provide co-packaged optics and linear pluggable optics solutions for data centers, targeting the pluggable optics market projected to reach $25 billion by 2030. This move is widely viewed as a significant expansion by GLOBALFOUNDRIES into the artificial intelligence and advanced packaging domains.

The partnership announcement also helped repair market confidence after the stock dropped 8.84% on May 27 following news that major shareholder Mubadala planned to sell approximately $1.91 billion worth of shares. Within the Semiconductors sector, among individual stocks, Micron Technology down 0.53%, NVIDIA up 1.04%, Advanced Micro Devices down 0.91%, Intel down 1.4%, Broadcom up 5.12%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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