GlobalFoundries Mitarbeitende spenden mehr als 40.000 Euro für Ukrainehilfe an arche noVa e.V. March 21, 2023 Unternehmen verdreifacht Spenden durch internes Spendenprogramm GlobalGives Dresden, 21. März 2023. Rund ein Jahr nach dem Beginn des russischen Angriffs auf die Ukraine ziehen der Dresdner Chiphersteller GlobalFoundries (GF) und die Dresdner Hilfsorganisation arche noVa e.V. Bilanz zu gemeinsamen Spendenprojekten. Seit März 2022 haben das Unternehmen und seine Mitarbeitenden mehr als 40.000 Euro an arche noVa zugunsten humanitärer Projekte in der Ukraine gespendet. Neben einer Direktspende von 5.000 Euro verdreifachte GF die Spenden seiner Mitarbeitenden über das firmeninterne Spendenprogramm GlobalGives. “Unsere Kolleginnen und Kollegen hatten vom ersten Tag des Krieges an ein starkes Bedürfnis zu helfen. Als internationales Team aus 45 Nationen gibt es vielfältige persönliche Beziehungen und großes privates Engagement. Viele Familien haben Geflüchtete aufgenommen und neben Geld auch Alltagsausstattung gespendet”, erklärt Unternehmenssprecherin Karin Raths. “Die hohe Spendensumme von über 40.000 Euro an unseren langjährigen Projektpartner arche noVa hat auch uns sehr positiv überrascht. Auf Wunsch unserer Mitarbeitenden werden wir das Spendenprogramm in dieser Form auch 2023 weiterführen!” „Wir sind sehr beeindruckt von dem Engagement des GlobalFoundries-Teams. Der hohe Spendenbetrag ist ein großer Vertrauensbeweis für die seit Jahren anhaltende partnerschaftliche Zusammenarbeit und zeigt uns, was möglich ist, wenn soziale Verantwortung konsequent gelebt wird“, betont Mathias Anderson, Geschäftsführer von arche noVa. „Das Spendenprogramm GlobalGives ermöglicht uns seit 2020, von Krisen und Konflikten betroffene Menschen mit humanitärer Hilfe zu erreichen. Im Falle der Ukraine bedeutet dies etwa die Verteilung von lebenswichtigen Hilfsgütern wie Wasser, Lebensmittel, Hygienekits oder auch Öfen und Brennstoffen gegen die winterliche Kälte. Angesichts der besonders in der Ostukraine weiterhin prekären humanitären Lage ist diese Solidarität sehr wichtig.“ GF engagiert sich weltweit seit vielen Jahren im Umfeld seiner Standorte. Mitarbeitende können Vereine und Organisationen in die Spendendatenbank GlobalGives eintragen. Die Spenden an diese Empfänger werden von GF verdoppelt. GF-Mitarbeitende können auch ihren ehrenamtlichen Einsatz in Vereinen eintragen. Im vergangenen Jahr spendeten Mitarbeitende des Dresdner GF-Standorts für regionale Projekte so mehr als 200.000 Euro. Dazu kamen fast 1.000 Stunden Freiwilligenarbeit für 118 Organisationen in Sachsen. Aktuell unterstützt GlobalFoundries auch humanitäre Projekte für die Opfer des Erdbebens in der türkisch-syrischen Grenzregion über das Bündnis Aktion Deutschland hilft, in dem auch arche noVa aktiv ist. Bildquelle: arche noVa/New Way About GF GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com. ©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. Or its subsidiaries. All other trademarks are the property of their respective owners. Media Contacts: GF Karin Raths[email protected]+49 172 7934969
GlobalFoundries Recognized as a Best Workplace for Innovators by Fast Company September 24, 2024 Innovation is the driving force behind progress. At GlobalFoundries (GF), we’re proud that this force is celebrated, nurtured, and empowered, so much so that GF has now been recognized by Fast Company as one of the 2024 “Best Workplaces for Innovators.” This accolade, specifically in the Science and Technology category, highlights our longstanding dedication to fostering a workplace where creativity and cutting-edge innovation thrive. Shaping What’s Essential to Build a Legacy of Innovation For the past 15 years, GF has been at the forefront of the semiconductor industry, creating essential chips that are critical to the technology we rely on daily. From smart speakers to electric vehicles and beyond, GF’s chips are the lifeblood of modern devices that power how we live, work, and connect. “We’ve made it our goal to empower our global team of innovators — whether they be recent college graduates or veteran engineers — to shape what’s essential in our world,” says Gregg Bartlett, our Chief Technology Officer. “I’m proud that everyone at GF has a hand in driving our mission forward, to manufacture the essential chips the world relies on.” This spirit of innovation permeates every corner of GF, and it’s reflected in the recognition for achievements like the company’s 22FDX® platform, which boasts up to 50% higher performance and 70% less power consumption compared to other planar CMOS technologies. From AI accelerators to advanced automotive sensors, GF’s dedication to innovation has left an indelible mark on the industries we serve. GF’s director of GF Labs, Bika Carter and director of corporate communications, Erica McGill Powering Tomorrow with Research and Development At the heart of GF’s technological advancements is our commitment to research and development (R&D). Through GF Labs, the company dives into some of the most promising technological megatrends, including IoT, 5G/6G, and artificial intelligence (AI). This commitment to R&D is backed by strategic partnerships with academic institutions like such as Purdue University, Georgia Tech, Technische Universität Dresden, the University of Vermont and Rensselaer Polytechnic Institute (RPI). These collaborations not only drive technological advancements but also position GF as a leader in semiconductor innovation. GF’s University Partnership Program, spanning over 50 universities globally, reflects the company’s desire to bridge the gap between academic research and real-world applications. “As we continue to grow, we remain dedicated to our mission of shaping what’s essential,” said Bika Carter, Director of GF Labs. “Being recognized by Fast Company highlights the collective efforts of our employees and our global university partnerships that are enabling us to push the boundaries of technology and deliver innovative solutions to our customers, partners and the world.” A Workplace Culture Built on Innovation Innovation at GlobalFoundries doesn’t stop at technology — it extends to the workplace culture, which is designed to foster creativity, collaboration, and inclusion. With programs like Employee Resource Groups (ERGs) and the Global Journey Re-Entry Program, GF supports diverse voices and experiences, ensuring that everyone has a chance to contribute to the company’s innovation agenda. “We believe that innovation thrives in an inclusive environment,” comments Pradheepa Raman, our Chief People Officer. “That’s why we’ve invested in creating a workplace where all our employees, from recent graduates to seasoned engineers, feel empowered to push boundaries and drive technological progress.” Beyond its inclusive programs, we also offer forward-thinking benefits like a student loan repayment program, providing tax-free assistance up to $28,500, showcasing our commitment to lifelong learning and development. Innovation Propelled by Our People The core of our team’s success lies in our people. Every achievement, every advancement, and every milestone is the result of the hard work and ingenuity of GF’s global workforce. From engineers to technicians to business leaders, our team brings their passion for innovation to every task, driving the company forward and pushing the boundaries of what’s possible. To learn more about how GF is shaping what’s essential and creating a workplace where innovation flourishes, visit gf.com/careers.
Paving the Path for Industry Innovation: A Conversation with Ken McAvey September 16, 2024 Ken discusses his career from process engineer to Vice President and General Manager of Vermont Operations and Global Facilities, the CHIPS and Science Act and the future of GlobalFoundries’ longest operating Fab Meet Ken McAvey. Many here at GlobalFoundries (GF) know him as an engineer who now heads up GF’s longest-operating and most storied Fab. But Ken’s roots with GF’s Burlington, Vermont, manufacturing site date back almost 30 years, and his ties to the region, its technology sector and local community run even deeper. Starting as a process engineer out of college—back when the site was owned by IBM—Ken held various leadership roles until his recent appointment as Vice President and General Manager of Vermont Operations and Global Facilities. Today, Ken is focused on the future. Following the announcement of GF’s proposed award of funding under the CHIPS and Science Act, we spoke with him about the impact on America’s first and largest Trusted Foundry, the technology it will produce and what it means for the Green Mountain State. You grew up in Vermont – and have spent most of your career at GF’s Burlington Fab. What was your journey from the start of your professional life to now running this 24/7 operation? Since beginning my career as a process engineer, I have been fortunate to have had a wealth of opportunities to work in various areas of the business. My experience includes working in manufacturing, process integration, overseeing characterization and integration and handling capacity planning and Technology development. I also had the privilege of leading the GF Central engineering team, driving best known processes across all of GF’s fabs to achieve optimal results, facilitate effective knowledge sharing and foster innovation. Subsequently, I returned to the Vermont site as the Senior Director of Module Engineering. Today, I have the tremendous honor to serve as the Vice President and General Manager of Vermont Operations and Global Facilities. My success is due in large part to the support and guidance of my great mentors and colleagues, both past and present, who provided me with invaluable opportunities to advance my career. Running a GF manufacturing site sounds complex – and busy! What does your day to day like? One of the most exciting aspects of working in the semiconductor industry is that no two days are the same. While we plan our days and weeks in advance, the dynamic nature of the business means that our schedules are constantly evolving. At the core of our operations is a robust management system that ensures we consistently deliver quality products for our customers, on time, while maintaining a thriving workforce. Over the course of a week, our meetings focus on key areas such as quality, cost, delivery and team management, but the dynamic nature of working in a 24/7 factory presents ongoing opportunities for improvement and growth. As a result, our schedules and plans are constantly shifting to adapt to new challenges and opportunities. There’s so much history here at the Vermont Fab – and you’ve been part of a lot of it. As the Fab enters its next chapter, what are you most excited about following GF’s CHIPS Act announcement? This is a once in a lifetime opportunity. The proposed investment underscores the vital role that GF’s Vermont Fab plays in domestic semiconductor manufacturing and the industry as a whole. With a 67-year history as the country’s first Trusted Foundry, this award is a testament to the decades of teamwork and innovation that have taken place in Essex Junction. The proposed funding will drive change at the Fab in three key ways: Continuing modernization of the site, including infrastructure, buildings and facility operations. Upgrading semiconductor equipment inside the fab to increase productivity, energy efficiency and environmental friendliness. Expanding our Gallium Nitride (GaN) semiconductor manufacturing capabilities, positioning GF’s Vermont Fab to become the country’s largest 200-millimeter GaN foundry. Tell us more about GaN and GF’s role in next-generation GaN chips. Gallium Nitride (GaN) semiconductors are advanced materials used in electronics that offer superior efficiency and performance in power and high-frequency applications compared to traditional silicon. Recently, GF received a $35 million investment from the U.S. government to boost production of these chips for use in sectors like aerospace and defense, cellular communications, industrial IoT and the automotive industry. This initiative is particularly thrilling as it builds upon our legacy of innovation and highlights our facility’s ongoing contributions to the industry in making essential chips. As we work to establish Vermont as a global GaN hub, we are enhancing our team’s skills and recruiting nationally to attract top talent in GaN technology. Our collaboration with the University of Vermont is crucial. This partnership leverages GF’s technology and is a testament to our strong local collaboration. Additionally, this summer we completed the acquisition of Tagore Technology’s Gallium Nitride Power business, which includes its extensive IP portfolio and its team of GaN engineers. Tell us more about the sustainability initiatives that the proposed funding will support. Being in the Green Mountain State, we are immensely proud of our unwavering commitment to the environment. Through the proposed funding, the Fab is exploring CO2 abatement technology to reduce greenhouse gas (GHG) emissions, as well as investing in wastewater treatment facilities and solar power on-site. We are also exploring how to maximize the use of our large campus at Fab 9 for solar production and have begun the permitting process for our first phase of buildout. As we work to align our facilities with our environmental goals, this will be a continuation of the environmental leadership our Fab is providing not only across the state, but also the country. How do you anticipate Vermont’s workforce evolving in the coming years? We are deeply committed to developing our workforce and fostering diversity through all levels of the organization. Last year, 50% of new college graduates were women. Ongoing efforts to diversify our workforce are bolstered by our partnerships with universities and technical schools. With the additional funding provided by this announcement, we are poised to further drive our workforce development initiatives, attracting and retaining the best talent in the industry. For you, what has been the highlight of working with the wider Vermont community? As Vermont’s largest private, for-profit employer, we recognize the significant impact we have on the community and take our responsibility to heart. We are committed to fostering an inclusive and integrated approach to community engagement, both within and beyond our four walls. Our efforts include hosting Lake Champlain’s Chamber of Commerce kickoff, organizing employee events at University of Vermont sports outings and something that I am passionate about – sponsoring the FIRST Robotics Competition. One particularly memorable moment for me was when 23 of our team members bravely plunged into Lake Champlain to raise nearly $19,000 for the Special Olympics! The outpouring of community recognition following the announcement of the CHIPS investment to GF has been overwhelming. From congratulatory messages on LinkedIn to well-wishers stopping me at the supermarket, the support from the community and state has been truly heartwarming. It truly is a win-win for everyone. Looking forward, what is your vision for the Fab’s role in contributing to the growing semiconductor industry? GF’s Vermont Fab is a center of excellence for innovation, leading the world in 200 mm manufacturing, copper interconnects and RF-SOI technology that power today’s smartphones. With the CHIPS Act investment, GaN is set to become the next flagship example of the Fab’s pioneering work in the industry. I’m thrilled to see our site continue its legacy of innovation in the semiconductor industry through our future innovations.
Enosemi and GlobalFoundries announce the availability of silicon-validated electronic-photonic design IP available in the GF Fotonix platform September 12, 2024
GlobalFoundries and Silicon Catalyst Partner to Accelerate Differentiated Technology Solutions for Semiconductor Startups September 9, 2024 GF joins incubator’s ecosystem as both a strategic and in-kind partner SILICON VALLEY, Calif. and MALTA, N.Y., September 9, 2024 – GlobalFoundries (Nasdaq: GFS) (GF) and Silicon Catalyst, the world’s only incubator+accelerator focused exclusively on semiconductor solutions, today announced that GF has joined the incubator’s semiconductor startup ecosystem as a Strategic Partner and an In-Kind Partner (IKP). The partnership will provide innovative startups with access to GF’s differentiated platforms to speed the development and commercialization of next generation IoT, automotive and generative AI applications while anticipating future growth markets such as medical and quantum compute. As a Strategic Partner, GF will work closely with Silicon Catalyst to recruit, evaluate and select early-stage startups seeking to participate in their program. As a member of the IKP ecosystem, GF will provide access to PDKs, MPWs, Foundation IP, and Reference Designs to accelerate time to market for approved, early-stage companies on GF’s 22FDX®, Silicon Photonics, and Gallium Nitride (GaN) platforms. “Our long-standing partnership with GlobalFoundries has been instrumental in bringing our groundbreaking optical I/O solution to market,” said Mark Wade, CEO and Co-Founder at Ayar Labs, a Silicon Catalyst alumnus. “Collaborating with programs like Silicon Catalyst, combined with access to GlobalFoundries’ platforms, enables companies like Ayar Labs to focus on what we do best – pushing the boundaries of AI infrastructure to handle the growing size and complexity of AI models.” “GlobalFoundries’ market leading differentiated essential chip technologies are rooted in innovation and collaboration,” said Gregg Bartlett, chief technology officer at GF. “By partnering with Silicon Catalyst, we will work with early-stage start-ups, giving us a first-hand view into emerging innovations, to push the boundaries of our differentiated technologies and deliver customized solutions that will give these companies a competitive edge as they go to market.” “GlobalFoundries is committed to driving innovation and delivering differentiated technology solutions to their customers. We are delighted to have them join the Silicon Catalyst ecosystem,” said Pete Rodriguez, CEO at Silicon Catalyst. “Our partnership provides startups a unique opportunity to engage with GF and gain access to their differentiated, cost-effective solutions. This valuable collaboration promises to fuel a new cycle of semiconductor innovation, while helping new companies address the challenges in moving from idea to realization.” Silicon Catalyst’s ecosystem includes over 350 semiconductor industry advisors, 14 Strategic Partners, seventy In-Kind Partners, an extensive investor network, and strong connections to major domestic and international academic institutions. The collaboration will provide GF access to deep and broad semiconductor industry insight. Join the Silicon Catalyst team at the AI Hardware and Edge AI Summit, September 9 – 12 in San Jose, California, where three of Silicon Catalyst Portfolio Company CEO’s will be presenting during the technical sessions. Attendees are invited to visit the Silicon Catalyst booth at the AI Innovation exhibition area to learn more about the GF and Silicon Catalyst partnership and how it will enable semiconductor startups to build foundational solutions that support transformative sectors like AI, quantum compute, auto, and IoT. About GFGlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development, and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com. ©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. Or its subsidiaries. All other trademarks are the property of their respective owners. Forward-looking InformationThis news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law. About Silicon Catalyst “it’s about what’s next®” Silicon Catalyst is the only incubator + accelerator focused on the Global Semiconductor Industry including Chips, Chiplets, Materials, IP and Silicon fabrication based Photonics, MEMS, Sensors, Life Science and Quantum. More than 1,200 startup companies worldwide have engaged with Silicon Catalyst and the company has admitted over 100 exciting companies. With a world-class network of mentors to advise startups, Silicon Catalyst is helping new semiconductor companies address the challenges in moving from idea to realization. The incubator + accelerator supplies startups with access to design tools, silicon devices, networking, and a path to funding, banking and marketing acumen to successfully launch and grow their company’s novel technology solutions. Over the past nine years, the Silicon Catalyst model has been proven to dramatically accelerate a startup’s trajectory while at the same time de-risking the equation for investors. The Silicon Catalyst Angels was established in July 2019 as a separate organization to provide access to seed and Series A funding for Silicon Catalyst Portfolio Companies. SiliconCatalyst.UK, a subsidiary of Silicon Catalyst, was selected by the UK government to manage ChipStart UK, an early-stage semiconductor incubator funded by the UK government. In February of this year, Silicon Catalyst Ventures (SCV) was launched to fund early-stage startups accepted into the incubator’s two year program. SCV has already made ten investments in Silicon Catalyst Portfolio Companies. More information is available at www.siliconcatalyst.com, www.siliconcatalystangels.com, www.siliconcatalyst.uk, and www.sicatalystvc.com. Media Contact: GlobalFoundriesErica McGill[email protected]518-795-5240
Finwave Semiconductor and GlobalFoundries Partner on RF GaN-on-Si Technology for Cellular Handset Applications August 29, 2024
Efficient and GlobalFoundries Partner to Enable a New Category of Ultra Energy-Efficient, High-Performance Processors August 29, 2024
What Do We Mean When We Say “Essential”? August 29, 2024 By Laurie Kelly, Chief Communications Officer, GlobalFoundries It’s a rare day when I’m not reminded of how critical semiconductors are in our daily lives. Sure, as the Chief Communications Officer for a leader in the semiconductor industry, how could I not be? I’m surrounded by engineers, technicians, business leaders and countless other colleagues across the globe who work every day to bring this vital technology from our customers’ concepts to completed chips that end up in some of the coolest products and devices. So many “a-ha moments” take place inside and outside of our Fab’s walls. My earbuds that rarely leave my ears…they have GF chips inside. Similarly, my smartphone allows me to securely pay for coffee, among other things, thanks to GF chips. And perhaps most importantly – the navigation system that reliably guides me through the winding roads of upstate New York and Vermont is powered by GF chips, a reminder each day of the critical role our technology plays in everyday navigation and safety. During the height of the global chip shortage that impacted all of us, it really hit home. I vividly remember looking to lease a new car as my current lease was expiring and having the salesperson at the dealership tell me “there was a shortage of cars because if I hadn’t heard, there was a shortage of semiconductor chips” – oh yes, I had heard! When supply chains and production lines are running smoothly, it’s easy to forget they allow us to connect with our friends and family, keeping us safe and secure inside and out of our homes, and allowing us to live, work and connect seamlessly. These vital technologies are made possible by GF-manufactured chips every day. It’s our focus and what differentiates us from others, many of whom are focused on ever smaller and faster chips. While those chips certainly have a role, they’re only one slice. GF is focused on the rest of the pie. This is why we call the chips GF manufactures what they are: essential. The Wonders of Today’s Connected World Did you know that nearly every smartphone and almost every vehicle on the road relies on our technology? That those alerts when another car is in your blind spot or when your tire needs air are made possible by GF chips? Ever wonder how your phone connects to towers and satellites faster and with less power? You might not always see them, but our chips are the backbone of modern technologies, driving progress and enhancing convenience in ways we often take for granted. From automotive to the Internet of Things (IoT), data centers and even satellites, we provide essential chips in everyday life and critical applications, connecting the world one chip at a time. Innovation’s Building Block We’re called GlobalFoundries for a reason – it’s in our name. Our global footprint has proven to be a winning model that much of the industry is starting to replicate. At GF, our global manufacturing footprint stretches across the U.S., Europe, and Asia, giving our customers the unique technology platforms they need, no matter where they are. But it’s not just about our technology — we’re everywhere our customers need us to be. With our resilient global presence and dedicated team, we can keep the supply chain strong and meet customer demands, even in the face of global challenges. Our People At the heart of everything is our people. We wouldn’t be where we are without the 13,000 incredible individuals from over a dozen countries who make up our team. They’re the ones who take our customers’ ideas and turn them into reality. Our engineers, designers, and technicians pour their expertise and passion into every chip we create, ensuring it meets the highest standards of quality and reliability. Their commitment to innovation and excellence pushes us to explore new frontiers in semiconductor technology. Their skills and dedication are the bedrock of our success, making our chips essential. Shaping What’s Essential When I walk into one of GF’s fabs – whether in New York, Vermont, Germany or Singapore, it’s not lost on me that what our teams do every day is so much bigger than all of us. It’s humbling to see the scale and complexity of our operations and the people from all over the world who make it possible. From concept to chip, we are dedicated to innovation, quality, and reliability, ensuring that the technology we create is truly essential. As I close my laptop at the end of the day, I feel proud knowing that our work at GF is not just making an impact – but truly powering our world. We are shaping what’s essential.
Accelerating AI with Essential Chips at GlobalFoundries Technology Summit 2024 August 28, 2024 GF-made essential chips play a critical role in realizing “AI Everywhere” SANTA CLARA, Calif., August 28, 2024 — GlobalFoundries (Nasdaq: GFS) (GF) will kick off its annual Technology Summit series tomorrow, highlighting the critical role of GF-made essential chips in accelerating the impact and ubiquity of artificial intelligence. The theme of “AI Everywhere” will connect the keynotes, panel discussions and deep-dive sessions of GF’s annual technology-focused event, which brings together leaders from across the semiconductor industry to share insights on the latest technology advancements and trends. GF customers, partners and attendees will hear how GF technology platforms provide the flexibility and reliability that will drive advancements in smarter, more connected and more efficient devices to achieve “AI Everywhere.” Along with AI, discussions will explore the intersection of GF’s essential chip technology platforms with high-growth end-markets including smart mobile devices, automotive, IoT, datacenter and communications infrastructure, and aerospace, defense and critical infrastructure. GF will also share its product line roadmaps. This year’s keynote address will be given by semiconductor industry luminary Lip-Bu Tan, founder and chairman of capital venture firm Walden International and founding managing partner of Celesta Capital and Walden Catalyst Ventures. His presentation “Fueling semiconductor innovation in the next decade” will discuss the impact of AI on the semiconductor industry. In addition, key GF customers and partners will engage in the panel discussion, “Understanding the impact of the AI-driven refresh cycle.” GF’s North American Technology Summit 2024 will take place at the Santa Clara Convention Center. Click here to see the full agenda. Additional events will take place in Munich, Germany, in September and Shanghai, China, in October. About GTS GF Technology Summit (GTS) 2024 is our worldwide, annual series of technology-focused events. GTS brings together leaders from across the semiconductor industry to share their insights on the latest technology trends that enable us to design the essential chips the world relies on to live, work, and connect. About GF GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development, and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com. ©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. or its subsidiaries. All other trademarks are the property of their respective owners. Forward-looking Information This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law. Media Contact: Michael Mullaney[email protected]
GF Trusted Foundry Training September 25-26, 2024Essex Junction, Vermont Invite-only event showcases key updates to GF’s technology solutions and the value of secure and Trusted design and manufacturing capabilities for the aerospace, defense, and critical infrastructure markets.
GlobalFoundries Reports Second Quarter 2024 Financial Results August 6, 2024 MALTA, N.Y., Aug. 06, 2024 (GLOBE NEWSWIRE) — GlobalFoundries Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the second quarter ended June 30, 2024. Key Second Quarter Financial Highlights Revenue of $1.632 billion Gross margin of 24.2% and Non-IFRS gross margin(1) of 25.2% Operating margin of 9.5% and Non-IFRS operating margin(1) of 13.0% Net income of $155 million and Non-IFRS net income(1) of $211 million Non-IFRS Adjusted EBITDA(1) of $610 million Cash, cash equivalents and marketable securities of $4.1 billion Year to date net cash provided by operating activities of $890 million and Non-IFRS adjusted free cash flow of $563 million “In the second quarter, GF delivered financial results that exceeded the mid-point of the guidance ranges we provided in our May earnings release, thanks to the dedication of our employees across the world. We remain focused on a disciplined capex strategy and strong cash flow, with over $500 million of cumulative Non-IFRS adjusted free cash flow generation in the first half of 2024,” said Dr. Thomas Caulfield, president and CEO of GF. “I am proud of how well our teams are partnering with our customers on new design wins, delivering best in class technologies and executing our long-term plans.” Recent Business Highlights GF announced that it has acquired Tagore Technology’s proprietary and production-proven Power Gallium Nitride (GaN) business, including its design team and IP portfolio. The acquisition expands GF’s power IP portfolio and aligns with GF’s objectives to support our customers in the rapidly expanding GaN power devices sector. BAE Systems and GF announced a new collaboration to strengthen the supply of critical semiconductors for national security programs. Together, the companies will collaborate on R&D in a range of areas, including advanced packaging, GaN, silicon photonics and process development. GF released its 2024 Corporate Sustainability Report, which highlights the breadth of GF’s efforts and progress in the areas of sustainability, social responsibility and corporate governance. GF strives to innovate and partner with customers to enable new, smarter and more efficient technologies while also minimizing our impact on the environment, driving positive change and creating lasting value. (1) Non-IFRS gross profit, Non-IFRS operating profit, Non-IFRS net income, Non-IFRS Adjusted EBITDA and any related margins are all Non-IFRS measures. See “Unaudited Reconciliation of IFRS to Non-IFRS” for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure. See “Financial Measures (Non-IFRS)” for a discussion of why we believe these Non-IFRS measures are useful. Unaudited Summary Quarterly Results (in millions USD, except per share amounts and wafer shipments) Q2’24 Q1’24 Q2’23 Year-over-year Q2’24 vs Q2’23 Sequential Q2’24 vs Q1’24 Net revenue $ 1,632 $ 1,549 $ 1,845 $ (213 ) (12 )% $ 83 5 % Gross profit $ 395 $ 393 $ 532 $ (137 ) (26 )% $ 2 1 % Gross margin 24.2 % 25.4 % 28.8 % (460)bps (120)bps Non-IFRS gross profit(1) $ 411 $ 405 $ 546 $ (135 ) (25 )% $ 6 1 % Non-IFRS gross margin(1) 25.2 % 26.1 % 29.6 % (440)bps (90)bps Operating profit $ 155 $ 147 $ 275 $ (120 ) (44 )% $ 8 5 % Operating margin 9.5 % 9.5 % 14.9 % (540)bps 0bps Non-IFRS operating profit(1) $ 212 $ 187 $ 338 $ (126 ) (37 )% $ 25 13 % Non-IFRS operating margin(1) 13.0 % 12.1 % 18.3 % (530)bps +90bps Net income $ 155 $ 134 $ 237 $ (82 ) (35 )% $ 21 16 % Net income margin 9.5 % 8.7 % 12.8 % (330)bps +80bps Non-IFRS net income(1) $ 211 $ 174 $ 297 $ (86 ) (29 )% $ 37 21 % Non-IFRS net income margin(1) 12.9 % 11.2 % 16.1 % (320)bps +170bps Diluted earnings per share (“EPS”) $ 0.28 $ 0.24 $ 0.43 $ (0.15 ) (35 )% $ 0.04 17 % Non-IFRS diluted EPS(1) $ 0.38 $ 0.31 $ 0.53 $ (0.15 ) (28 )% $ 0.07 23 % Non-IFRS Adjusted EBITDA(1) $ 610 $ 577 $ 668 $ (58 ) (9 )% $ 33 6 % Non-IFRS Adjusted EBITDA margin(1) 37.4 % 37.2 % 36.2 % +120bps +20bps Cash from operations $ 402 $ 488 $ 546 $ (144 ) (26 )% $ (86 ) (18 )% Wafer shipments (300mm equivalent) (in thousands) 517 463 573 (56 ) (10 )% 54 12 % (1) Non-IFRS gross profit, Non-IFRS operating profit, Non-IFRS net income, Non-IFRS diluted EPS, Non-IFRS Adjusted EBITDA, and any related margins are all Non-IFRS measures. See “Unaudited Reconciliation of IFRS to Non-IFRS” section for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure. See “Financial Measures (Non-IFRS)” for a discussion of why we believe these Non-IFRS measures are useful. Summary of Third Quarter 2024 Guidance (unaudited in millions USD, except per share amounts)(1) IFRS Share-based compensation Non-IFRS (2) Net revenue $1,700 – $1,750 — $1,700 – $1,750 Gross profit $376 – $425 $13 – $15 $391 – $438 Gross margin(3) (mid-point) 23.2% 24.0% Operating profit $116 – $193 $45 – $55 $171 – $238 Operating margin(3) (mid-point) 9.0% 11.9% Net income (4) $100 – $169 $45 – $55 $155 – $214 Net income margin(3) (mid-point) 7.8% 10.7% Diluted EPS $0.18 – $0.30 $0.28 – $0.38 (1) The Guidance provided contains forward-looking statements as defined in the U.S. Private Securities Litigation Act of 1995, and is subject to the safe harbors created therein. The Guidance includes management’s beliefs and assumptions and is based on information currently available. (2) Non-IFRS gross profit, Non-IFRS operating expense, Non-IFRS operating profit, Non-IFRS net income, and Non-IFRS diluted EPS are Non-IFRS measures and, for purposes of the Guidance only, are defined as gross profit, operating profit, net income, and EPS before share-based compensation, respectively. Non-IFRS operating expense is calculated by subtracting Non-IFRS operating profit from Non-IFRS gross profit. (3) Non-IFRS margins are Non-IFRS measures and for purposes of the Guidance only, are defined as Non-IFRS gross profit, Non-IFRS operating profit and Non-IFRS net income, each divided by net revenue (using the definitions of Non-IFRS gross profit, Non-IFRS operating profit, and Non-IFRS net income, in footnote (2) above, as appropriate). (4) Included in net income is net interest income and other income and expense which we estimate will be between $0 and $7 million for the third quarter 2024. Also included in net income is income tax expense which we estimate will be between $16 million and $31 million for the third quarter 2024. Unaudited Consolidated Statements of Operations Three Months Ended (in millions USD, except for per share amounts) June 30, 2024 June 30, 2023 Net revenue $ 1,632 $ 1,845 Cost of revenue 1,237 1,313 Gross profit $ 395 $ 532 Operating expenses: Research and development 121 106 Selling, general and administrative(1) 114 132 Restructuring charges 5 19 Total operating expenses $ 240 $ 257 Operating profit $ 155 $ 275 Finance income (expense), net 16 — Other income (expense) (4 ) (10 ) Income tax expense (12 ) (28 ) Net income $ 155 $ 237 Attributable to: Shareholders of GlobalFoundries 155 240 Non-controlling interest — (3 ) EPS: Basic $ 0.28 $ 0.43 Diluted $ 0.28 $ 0.43 Shares used in EPS calculation (in millions): Basic 554 552 Diluted 557 556 (1) Beginning in Q3 2023, selling, general and administrative includes (gain)/loss on tool sales and certain contract cancellation fees. Prior period amounts have not been adjusted, as they are immaterial. Unaudited Consolidated Statements of Financial Position (in millions USD) June 30, 2024 December 31, 2023 Assets: Cash and cash equivalents $ 2,184 $ 2,387 Receivables, prepayments and other 1,127 1,420 Marketable securities 1,183 1,033 Inventories 1,786 1,487 Current assets $ 6,280 $ 6,327 Deferred tax assets $ 211 $ 241 Property, plant, and equipment, net 9,234 9,829 Right of use assets 510 335 Marketable securities 778 468 Other assets 914 844 Non-current assets $ 11,647 $ 11,717 Total assets $ 17,927 $ 18,044 Liabilities and equity: Current portion of long-term debt $ 534 $ 571 Other current liabilities 2,300 2,528 Current liabilities $ 2,834 $ 3,099 Non-current portion of long-term debt $ 1,687 $ 1,801 Non-current portion of lease obligations 445 350 Other liabilities 1,662 1,643 Non-current liabilities $ 3,794 $ 3,794 Total liabilities $ 6,628 $ 6,893 Shareholders’ equity: Common stock / additional paid-in capital $ 23,925 $ 24,038 Accumulated deficit (12,713 ) (13,001 ) Accumulated other comprehensive income 40 67 Non-controlling interest 47 47 Total liabilities and equity $ 17,927 $ 18,044 Unaudited Consolidated Statements of Cash Flows Three Months Ended (in millions USD) June 30, 2024 June 30, 2023 Cash flows from operating activities: Net income $ 155 $ 237 Depreciation and amortization 402 340 Finance (income) expense, net and other (28 ) (14 ) Deferred income taxes 6 24 Other non-cash operating activities 35 50 Net change in working capital (168 ) (91 ) Net cash provided by operating activities $ 402 $ 546 Cash flows from investing activities: Purchases of property, plant, equipment, and intangible assets $ (101 ) $ (400 ) Other investing activities (69 ) (488 ) Net cash used in investing activities $ (170 ) $ (888 ) Cash flows from financing activities: Proceeds from issuance of equity instruments and other $ — $ 9 Purchases of treasury stock (200 ) — Proceeds (repayment) of debt, net (94 ) (87 ) Other financing activities — (4 ) Net cash used in financing activities $ (294 ) $ (82 ) Effect of exchange rate changes (1 ) — Net change in cash and cash equivalents $ (63 ) $ (424 ) Cash and cash equivalents at the beginning of the period 2,247 2,256 Cash and cash equivalents at the end of the period $ 2,184 $ 1,832 Unaudited Reconciliation of IFRS to Non-IFRS Three Months Ended (in millions, except for per share amounts) June 30, 2024 March 31, 2024 June 30, 2023 Net Revenue $ 1,632 $ 1,549 $ 1,845 Gross profit $ 395 $ 393 $ 532 Gross margin 24.2 % 25.4 % 28.8 % Share-based compensation 16 12 14 Non-IFRS gross profit(1) $ 411 $ 405 $ 546 Non-IFRS gross margin(1) 25.2 % 26.1 % 29.6 % Selling, general and administrative(2) $ 114 $ 122 $ 132 Share-based compensation 28 21 24 Non-IFRS selling, general and administrative(1) $ 86 $ 101 $ 108 Research and development $ 121 $ 124 $ 106 Share-based compensation 8 7 6 Non-IFRS research and development(1) $ 113 $ 117 $ 100 Operating profit $ 155 $ 147 $ 275 Operating margin 9.5 % 9.5 % 14.9 % Share-based compensation 52 40 44 Restructuring charges 5 — 19 Non-IFRS operating profit(1) $ 212 $ 187 $ 338 Non-IFRS operating margin(1) 13.0 % 12.1 % 18.3 % Net income $ 155 $ 134 $ 237 Net income margin 9.5 % 8.7 % 12.8 % Share-based compensation 52 40 44 Restructuring charges 5 — 19 Income tax effect(3) (1 ) — (3 ) Non-IFRS net income(1) $ 211 $ 174 $ 297 Non-IFRS net income margin(1) 12.9 % 11.2 % 16.1 % Diluted EPS $ 0.28 $ 0.24 $ 0.43 Share-based compensation 0.09 0.07 0.08 Restructuring charges 0.01 — 0.03 Income tax effect(3) — — (0.01 ) Diluted shares outstanding 557 558 556 Non-IFRS diluted EPS(1) $ 0.38 $ 0.31 $ 0.53 (1) Non-IFRS gross profit, Non-IFRS selling, general and administrative, Non-IFRS research and development, Non-IFRS operating profit, Non-IFRS operating expense (calculated by subtracting Non-IFRS operating profit from Non-IFRS gross profit), Non-IFRS net income, Non-IFRS diluted EPS and any related margins are all Non-IFRS measures. See “Financial Measures (Non-IFRS)” for a discussion of why we believe these Non-IFRS measures are useful. (2) Beginning in Q3 2023, selling, general and administrative includes (gain)/loss on tool sales and certain contract cancellation fees. Prior period amounts have not been adjusted, as they are immaterial. (3) Relates to restructuring charges. Unaudited Non-IFRS Adjusted Free Cash Flow(1) Three Months Ended (in millions USD) June 30, 2024 March 31, 2024 June 30, 2023 Net cash provided by operating activities $ 402 $ 488 $ 546 Less: Purchase of property, plant and equipment and intangible assets (101 ) (227 ) (400 ) Add: Proceeds from government grants 1 — — Non-IFRS Adjusted free cash flow(2) $ 302 $ 261 $ 146 (1) Non-IFRS Adjusted free cash flow is a Non-IFRS measure. See “Financial Measures (Non-IFRS)” for a discussion of why we believe these Non-IFRS measures are useful. (2) Beginning Q1 2024 Non-IFRS Adjusted free cash flow includes proceeds from government grants related to capital expenditures. This change in methodology is in anticipation of future expected proceeds from government grants related to capital expenditures from the planned funding awarded under the U.S. CHIPS and Science Act and the New York State Green CHIPS, and better aligns our Non-IFRS Adjusted free cash flow metric to how GF assesses capital decisions internally. As such, prior periods have not been adjusted to reflect this new calculation methodology. Unaudited Reconciliation of Net Income to Non-IFRS Adjusted EBITDA Three Months Ended (in millions USD) June 30, 2024 March 31, 2024 June 30, 2023 Net revenue $ 1,632 $ 1,549 $ 1,845 Net income for the period 155 134 237 Net income margin 9.5 % 8.7 % 12.8 % Depreciation and amortization 402 392 340 Finance expense 37 37 34 Finance income (53 ) (47 ) (34 ) Income tax expense (benefit) 12 21 28 Share-based compensation 52 40 44 Restructuring charges 5 — 19 Non-IFRS Adjusted EBITDA(1)(2) $ 610 $ 577 $ 668 Non-IFRS Adjusted EBITDA margin(1)(2) 37.4 % 37.2 % 36.2 % (1) For the periods presented, there were no labor optimization expenses or divestiture gains and associated expenses, legal settlements and transaction expenses. (2) Non-IFRS Adjusted EBITDA and any related margin are Non-IFRS measures. See “Financial Measures (Non-IFRS)” for a discussion of why we believe these Non-IFRS measures are useful. Financial Measures (Non-IFRS) In addition to the financial information presented in accordance with International Financial Reporting Standards (“IFRS”), this press release includes the following Non-IFRS measures: Non-IFRS gross profit, Non-IFRS operating profit, Non-IFRS operating expense, Non-IFRS net income, Non-IFRS selling, general and administrative, Non-IFRS research and development, Non-IFRS diluted earnings per share (“EPS”), Non-IFRS Adjusted EBITDA, Non-IFRS Adjusted free cash flow and any related margins. We define each of Non-IFRS gross profit, Non-IFRS selling, general and administrative and Non-IFRS research and development as each respective IFRS measure adjusted for share-based compensation. We define Non-IFRS operating profit as operating profit adjusted for share-based compensation and restructuring charges. We define Non-IFRS operating expense as Non-IFRS gross profit minus Non-IFRS operating profit. We define Non-IFRS net income as net income adjusted for share-based compensation, restructuring charges and the associated tax impact. We define Non-IFRS diluted EPS as Non-IFRS net income divided by the diluted shares outstanding. We define Non-IFRS Adjusted free cash flow as cash flow provided by (used in) operating activities less purchases of property, plant and equipment and intangible assets plus proceeds from government grants related to capital expenditures. We define Non-IFRS Adjusted EBITDA as net income, adjusted for the impact of finance expense, finance income, income tax expense (benefit), depreciation and amortization, share-based compensation, restructuring charges, labor optimization initiatives and divestiture gains and associated expenses, legal settlements and transaction expenses. We define Non-IFRS gross margin as Non-IFRS gross profit divided by revenue. We define Non-IFRS operating margin as Non-IFRS operating profit divided by net revenue. We define Non-IFRS Adjusted EBITDA margin as Non-IFRS Adjusted EBITDA divided by net revenue. We believe that in addition to our results determined in accordance with IFRS, these Non-IFRS measures provide useful information to both management and investors in measuring our financial performance and highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures. These Non-IFRS financial measures provide supplemental information regarding our operating performance that excludes certain gains, losses and non-cash charges that occur relatively infrequently and/or that we consider to be unrelated to our core operations. Management believes that Non-IFRS Adjusted free cash flow as a Non-IFRS measure is helpful to investors as it provides insights into the nature and amount of cash the Company generates in the period. For further information regarding these Non-IFRS measures, please refer to the “Unaudited Reconciliation of IFRS to Non-IFRS” table. Non-IFRS financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS. Our presentation of Non-IFRS measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items. Other companies in our industry may calculate these measures differently, which may limit their usefulness as a comparative measure. Conference Call and Webcast Information GF will host a conference call with the financial community on Tuesday, August 6, 2024 at 8:30 a.m. U.S. Eastern Time (ET) to review the second quarter 2024 results in detail. Interested parties may join the scheduled conference call by registering at https://register.vevent.com/register/BI37c404d6b7914c8d93e4d8948ef79438. The call will be webcast and can be accessed from the GF Investor Relations website https://investors.gf.com. A replay of the call will be available on the GF Investor Relations website within 24 hours of the actual call. About GlobalFoundries GlobalFoundries® (GF®) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com. Forward-looking Statements This press release includes “forward-looking statements” that reflect our current expectations and views of future events. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 and include but are not limited to, statements regarding our financial outlook, future guidance, product development, business strategy and plans, and market trends, opportunities and positioning. These statements are based on current expectations, assumptions, estimates, forecasts, projections and limited information available at the time they are made. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” “outlook,” “on track” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are subject to a broad variety of risks and uncertainties, both known and unknown. Any inaccuracy in our assumptions and estimates could affect the realization of the expectations or forecasts in these forward-looking statements. For example, our business could be impacted by geopolitical conditions such as the ongoing political and trade tensions with China and the wars in Ukraine and Israel; domestic political developments, including with respect to the upcoming U.S. presidential election; the market for our products may develop or recover more slowly than expected or than it has in the past; we may fail to achieve the full benefits of our restructuring plan; our operating results may fluctuate more than expected; there may be significant fluctuations in our results of operations and cash flows related to our revenue recognition or otherwise; a network or data security incident that allows unauthorized access to our network or data or our customers’ data could result in a system disruption, loss of data or damage our reputation; we could experience interruptions or performance problems associated with our technology, including a service outage; global economic conditions could deteriorate, including due to increasing interest rates, rising inflation and any potential recession; and our expected results and planned expansions and operations may not proceed as planned if funding we expect to receive (including the planned awards under the U.S. CHIPS and Science Act and New York State Green CHIPS) is delayed or withheld for any reason. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Moreover, we operate in a competitive and rapidly changing market, and new risks may emerge from time to time. You should not rely upon forward-looking statements as predictions of future events. These statements are based on our historical performance and on our current plans, estimates and projections in light of information currently available to us, and therefore you should not place undue reliance on them. Although we believe that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assumes responsibility for the accuracy and completeness of these statements. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. Except to the extent required by federal securities laws, we undertake no obligation to update any information or any forward-looking statements as a result of new information, subsequent events or any other circumstances after the date hereof, or to reflect the occurrence of unanticipated events. For a discussion of potential risks and uncertainties, please refer to the risk factors and cautionary statements in our 2023 Annual Report on Form 20-F, current reports on Form 6-K and other reports filed with the Securities and Exchange Commission. Copies of our SEC filings are available on our Investor Relations website, investors.gf.com, or from the SEC website, www.sec.gov. For further information, please contact: Investor Relations [email protected]
