EXTOLL collaborates with ERIDAN as a Key Partner for Lowest Power High-Speed SerDes IP on GlobalFoundries’ 22FDX August 25, 2025
Cirrus Logic and GlobalFoundries Expand Strategic Investment to Advance Next-Generation Mixed-Signal Semiconductor Manufacturing in the U.S. August 19, 2025 Austin, TX and Malta, NY – August 19, 2025 – Cirrus Logic (Nasdaq: CRUS), a leading provider of high-performance audio and mixed-signal semiconductor solutions, today announced the expansion of its long-standing relationship with GlobalFoundries (Nasdaq: GFS) (GF) – one of the world’s leading semiconductor manufacturers. These joint development efforts aim to accelerate the introduction of more efficient, powerful, and reliable chip technologies that will drive the next generation of everyday devices, from smartphones to automobiles. Together, the companies are advancing the development and commercialization of next-generation BCD (Bipolar-CMOS-DMOS) process technology, which allows different functions to be combined on a single chip, making devices more power efficient and compact. This technology will be capable of being manufactured at GlobalFoundries’ facility in Malta, New York, adding a U.S. based option to complement existing manufacturing in Singapore and Germany. The expanded collaboration is expected to support Cirrus Logic’s commitment to delivering cutting-edge mixed-signal products to its core markets while strengthening the resilience and geographic diversity of its customers’ semiconductor supply chains. Cirrus Logic and GF are also collaborating on accelerating innovation in Gallium Nitride (GaN) technology utilizing GF’s specialized manufacturing facility in Essex Junction, Vermont. With a high-power density and the ability to handle high voltages, GF’s GaN-on-silicon platform offers efficiency and power management benefits for consumer and industrial applications. This joint effort is expected to expand Cirrus Logic’s mixed-signal and power technology portfolio, unlocking new capabilities and market opportunities. “We are excited to deepen our long-standing relationship with GlobalFoundries and help accelerate cutting-edge mixed-signal chip manufacturing to the U.S.” said John Forsyth, Cirrus Logic President and Chief Executive Officer. “This collaboration expands the technology leadership of both companies, strengthens the U.S. semiconductor supply chain and reinforces our shared commitment to innovation and customer success.” “GlobalFoundries is proud to expand our partnership with Cirrus Logic, a company that shares our commitment to driving semiconductor innovation and strengthening domestic manufacturing capabilities that are vital to national competitiveness and economic resilience,” said Tim Breen, CEO of GlobalFoundries. “Together, we’re enabling the next generation of essential chip technologies that will power tomorrow’s devices and systems. This collaboration underscores the importance of resilient, geographically diverse supply chains for our industry.” About Cirrus Logic, Inc. Cirrus Logic is a leader in low-power, high-precision mixed-signal processing solutions that create innovative user experiences for the world’s top mobile and consumer applications. With headquarters in Austin, Texas, Cirrus Logic is recognized globally for its award-winning corporate culture. Cirrus Logic, Cirrus and the Cirrus Logic logo are registered trademarks of Cirrus Logic, Inc. All other company or product names noted herein may be trademarks of their respective holders. About GF GlobalFoundries (GF) is a leading manufacturer of essential semiconductors the world relies on to live, work and connect. We innovate and partner with customers to deliver more power-efficient, high-performance products for automotive, smart mobile devices, internet of things, communications infrastructure and other high-growth markets. With our global manufacturing footprint spanning the U.S., Europe, and Asia, GF is a trusted and reliable source for customers around the world. Every day, our talented global team delivers results with an unyielding focus on security, longevity and sustainability. 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 Contact Derrick Shannon Account Director, Touchdown PR [email protected] 512.599.4015 Julia Betts Director, Communications & Employee Experience, Cirrus Logic [email protected] 512.851.4147
GlobalFoundries Completes Acquisition of MIPS August 14, 2025 Transaction expands IP offerings, strengthens portfolio differentiation and brings in engineering talent to accelerate AI and compute innovation MALTA, N.Y., Aug. 14, 2025 – GlobalFoundries (Nasdaq: GFS) (GF) today announced that it has completed its acquisition of MIPS, a leading supplier of AI and processor IP. The acquisition strengthens GF’s position as a global leader in differentiated semiconductor manufacturing and enhances its capabilities in AI, edge computing and other high-growth markets. The combination of GF and MIPS brings together decades of expertise in advanced semiconductor manufacturing and processor IP innovation, enabling GF to deliver more differentiated solutions to meet the growing demand for energy-efficient, high-performance computing at the edge and beyond. MIPS is expected to continue to operate as a standalone business within GF, maintaining its licensing model and focusing on serving a broad customer base across diverse technology sectors. About GF GlobalFoundries (GF) is a leading manufacturer of essential semiconductors the world relies on to live, work and connect. We innovate and partner with customers to deliver more power-efficient, high-performance products for the automotive, smart mobile devices, internet of things, communications infrastructure and other high-growth markets. With our global manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted and reliable source for customers around the world. Every day, our talented global team delivers results with an unyielding focus on security, longevity and sustainability. 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 contains forward-looking statements regarding the combination of GF with MIPS, which involve risks and uncertainties. Such risks and uncertainties include, but are not limited to, potential adverse effects or changes to relationships with customers, employees, suppliers or other parties resulting from the completion of the transaction, which could adversely affect GF’s or MIPS’ business, including current plans and operations. Readers are cautioned not to place undue reliance on any of these forward-looking statements and urged to review the risks and uncertainties discussed in our 2024 Annual Report on Form 20-F, current reports on Form 6-K and other reports filed with the Securities and Exchange Commission. 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:Erica McGill[email protected]+1-518-795-5240
Cyientsemi Insights – Cyient Semiconductors Enters Strategic Channel Partnership with GlobalFoundries August 7, 2025
GlobalFoundries Expands Partnership with Apple to Advance Wireless Connectivity and Power Management, Reinforcing U.S. Chip Manufacturing Leadership August 6, 2025 MALTA, N.Y., August 6, 2025 — GlobalFoundries (Nasdaq: GFS) (GF) today announced it has entered into an agreement with Apple for a deeper collaboration that will advance semiconductor technologies and strengthen U.S. manufacturing. This partnership will enable GF to accelerate investments at its state-of-the-art semiconductor manufacturing facility in Malta, New York, underscoring a shared commitment to strengthen U.S.-based innovation and production of power-efficient, AI-enabling technologies that are essential to the future of mobile computing and intelligent devices. “Today’s announcement is a significant milestone in our decade-long partnership with Apple, as we work together to manufacture critical wireless connectivity technologies and power management solutions, key parts of next-generation AI-enabled devices,” said Tim Breen, CEO of GlobalFoundries. “This is a testament to GF’s technology differentiation, coupled with our unique secure and onshore capabilities, and the trust Apple has placed in GF to deliver and build the advanced chips that power its next-generation smart mobile technologies. This agreement builds on our prior announcements and reinforces our shared commitment to strengthening U.S. semiconductor manufacturing and building a more resilient onshore supply chain.” “With our new American Manufacturing Program, we’re proud to partner with companies like GlobalFoundries to create new jobs and bring even more manufacturing to America,” said Sabih Khan, Apple’s chief operating officer. “This is part of our $600 billion commitment to the US over the next four years, and we couldn’t be more excited about the future of American innovation.” In June, in collaboration with major technology partners, GF announced plans to invest $16 billion to expand semiconductor manufacturing and advanced packaging across its facilities in New York and Vermont. These efforts are supported by and aligned with the administration’s bold policies, which prioritize American leadership in AI, including domestic semiconductor manufacturing for national and supply chain security. About GF GlobalFoundries (GF) is a leading manufacturer of essential semiconductors the world relies on to live, work and connect. We innovate and partner with customers to deliver more power-efficient, high-performance products for automotive, smart mobile devices, internet of things, communications infrastructure and other high-growth markets. With our global manufacturing footprint spanning the U.S., Europe, and Asia, GF is a trusted and reliable source for customers around the world. Every day, our talented global team delivers results with an unyielding focus on security, longevity and sustainability. 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.
GlobalFoundries Reports Second Quarter 2025 Financial Results August 5, 2025 Malta, New York, August 5, 2025 – GLOBALFOUNDRIES Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the second quarter ended June 30, 2025. Key Second Quarter Financial Highlights Revenue of $1.688 billion Gross margin of 24.2% and Non-IFRS gross margin(1) of 25.2% Operating margin of 11.6% and Non-IFRS operating margin(1) of 15.3% Net income of $228 million and Non-IFRS net income(1) of $234 million Diluted earnings per share of $0.41 and Non-IFRS diluted earnings per share(1) of $0.42 Non-IFRS adjusted EBITDA(1) of $585 million Ending cash, cash equivalents and marketable securities of $3.9 billion Net cash provided by operating activities of $431 million and Non-IFRS adjusted free cash flow(1) of $277 million “In the second quarter, the GF team delivered strong financial results above the midpoints of the Non-IFRS guidance ranges for revenue and gross margin, and earnings per share exceeded the high end of the guidance range,” said Tim Breen, CEO of GF. “Continued momentum across our Automotive and Communications Infrastructure and Datacenter end markets, enabled double digit percent year-over-year revenue growth in the second quarter for both businesses. As we await a return to meaningful growth across the consumer-driven end markets, I am pleased with the steps GF is taking to broaden the long term value proposition to our customers, through the expected acquisition of MIPS, as well as establishing our China for China foundry partnership.” Recent Business Highlights In June, GF was announced as the exclusive manufacturing partner for Continental’s newly established Advanced Electronics & Semiconductor Solutions (AESS) organization to help meet the growing demand for safe, connected autonomous vehicles. GF will serve as a trusted foundry partner to Continental, offering its manufacturing expertise, diversified global footprint, and automotive-qualified portfolio of process technologies. In July, GF announced a definitive agreement to acquire MIPS, a leading supplier of AI and processor IP. This acquisition will broaden GF’s portfolio with advanced RISC-V processor IP and software tools tailored for real-time computing in automotive, industrial, and data center infrastructure applications. The acquisition will offer customers deeper and closer collaboration with GF, as well as enhanced opportunities for chip customization. GF advanced its China-for-China strategy by entering into a definitive agreement with a local Chinese foundry to support GF’s customers with reliable supply in mainland China. Customers will benefit from GF’s automotive grade process technologies and manufacturing expertise, to serve their domestic Chinese demand. (1) See “Reconciliation of IFRS to Non-IFRS” for a detailed reconciliation of Non-IFRS financial measures to the most directly comparable IFRS measure. See “Financial Measures (Non-IFRS)” for further discussion on these Non-IFRS measures and why we believe they are useful. GLOBALFOUNDRIES Inc. Summary Quarterly Results(Unaudited, in millions, except per share amounts and wafer shipments) Year-over-year Sequential Q2’25 Q1’25 Q2’24 Q2’25 vs Q2’24 Q2’25 vs Q1’25 Net revenue $ 1,688 $ 1,585 $ 1,632 $ 56 3 % $ 103 6 % Gross profit $ 408 $ 355 $ 395 $ 13 3 % $ 53 15 % Gross margin 24.2 % 22.4 % 24.2 % 0bps +180bps Non-IFRS gross profit(1) $ 425 $ 379 $ 411 $ 14 3 % $ 46 12 % Non-IFRS gross margin(1) 25.2 % 23.9 % 25.2 % 0bps +130bps Operating profit $ 196 $ 151 $ 155 $ 41 26 % $ 45 30 % Operating margin 11.6 % 9.5 % 9.5 % +210bps +210bps Non-IFRS operating profit(1) $ 258 $ 213 $ 212 $ 46 22 % $ 45 21 % Non-IFRS operating margin(1) 15.3 % 13.4 % 13.0 % +230bps +190bps Net income $ 228 $ 211 $ 155 $ 73 47 % $ 17 8 % Net income margin 13.5 % 13.3 % 9.5 % +400bps +20bps Non-IFRS net income(1) $ 234 $ 189 $ 211 $ 23 11 % $ 45 24 % Non-IFRS net income margin (1) 13.9 % 11.9 % 12.9 % +100bps +200bps Diluted earnings per share (“EPS”) $ 0.41 $ 0.38 $ 0.28 $ 0.13 46 % $ 0.03 8 % Non-IFRS diluted EPS(1) $ 0.42 $ 0.34 $ 0.38 $ 0.04 11 % $ 0.08 24 % Non-IFRS adjusted EBITDA(1) $ 585 $ 558 $ 610 $ (25 ) (4) % $ 27 5 % Non-IFRS adjusted EBITDA margin(1) 34.7 % 35.2 % 37.4 % (270)bps (50)bps Cash from operating activities $ 431 $ 331 $ 402 $ 29 7 % $ 100 30 % Wafer shipments (300mm equivalent) (in thousands) 581 543 517 64 12 % 38 7 % (1) See “Reconciliation of IFRS to Non-IFRS” for a detailed reconciliation of Non-IFRS financial measures to the most directly comparable IFRS measure. See “Financial Measures (Non-IFRS)” for further discussion on these Non-IFRS measures and why we believe they are useful. GLOBALFOUNDRIES Inc. Summary of Third Quarter 2025 Guidance(1)(Unaudited, in millions, except per share amounts) IFRS Share-based compensation(3) Non-IFRS(2) Net revenue $1,675 ± $25 Gross margin(2) 24.4% ± 100bps ~110bps 25.5% ± 100bps Operating expenses(2) $228 ± $10 ~$38 $190 ± $10 Operating margin(2) 10.8% ± 180bps ~340bps 14.2% ± 180bps Diluted EPS(2)(4) $0.28 ± $0.05 ~$0.10 $0.38 ± $0.05 Fully Diluted Share Count ~560 (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 that is available as of the date of this release. (2) Non-IFRS gross margin, Non-IFRS operating expenses, Non-IFRS operating margin and Non-IFRS diluted EPS are Non-IFRS measures and, for purposes of the Guidance only, are defined as gross profit as a percent of revenue, operating profit as a percent of revenue, operating expenses and diluted EPS, all before share-based compensation, respectively. See “Financial Measures (Non-IFRS)” for further discussion on these Non-IFRS measures and why we believe they are useful. (3) We expect share-based compensation of $18 million and $38 million in cost of revenue and operating expenses, respectively. The Non-IFRS margin impacts are calculated by dividing share-based compensation by net revenue, and the Non-IFRS diluted EPS impact is calculated by dividing share-based compensation by the fully diluted share count. (4) Included in diluted EPS is net interest income (expense) and other income (expense) which we estimate will be between $4 million and $12 million for the third quarter 2025. Also included in diluted EPS is income tax expense which we estimate will be between $26 million and $40 million for the third quarter 2025. GLOBALFOUNDRIES Inc. Consolidated Statements of Operations(Unaudited, in millions, except for per share amounts) Three Months Ended June 30, 2025 June 30, 2024 Net revenue $ 1,688 $ 1,632 Cost of revenue 1,280 1,237 Gross profit $ 408 $ 395 Operating expenses: Research and development 134 121 Selling, general and administrative 78 114 Restructuring charges — 5 Total operating expenses $ 212 $ 240 Operating profit $ 196 $ 155 Finance income (expense), net 17 16 Other income (expense) 8 (4 ) Income tax (expense) benefit 7 (12 ) Net income $ 228 $ 155 Attributable to: Shareholders of GLOBALFOUNDRIES Inc. 228 155 Non-controlling interests — — EPS: Basic $ 0.41 $ 0.28 Diluted $ 0.41 $ 0.28 Shares used in EPS calculation: Basic 555 554 Diluted 557 557 GLOBALFOUNDRIES Inc. Condensed Consolidated Statements of Financial Position(Unaudited, in millions) As of June 30, 2025 December 31, 2024 Assets: Cash and cash equivalents $ 1,790 $ 2,192 Marketable securities 1,305 1,194 Receivables, prepayments and other 1,535 1,406 Inventories 1,726 1,624 Current assets $ 6,356 $ 6,416 Property, plant and equipment, net $ 7,505 $ 7,762 Marketable securities 823 839 Right-of-use assets 495 498 Deferred tax assets 270 188 Other assets 1,354 1,096 Non-current assets $ 10,447 $ 10,383 Total assets $ 16,803 $ 16,799 Liabilities and equity: Current portion of long-term debt $ 60 $ 753 Other current liabilities 2,354 2,291 Current liabilities $ 2,414 $ 3,044 Non-current portion of long-term debt $ 1,115 $ 1,053 Non-current portion of lease obligations 432 424 Other liabilities 1,374 1,454 Non-current liabilities $ 2,921 $ 2,931 Total liabilities $ 5,335 $ 5,975 Shareholders’ equity: Common stock / additional paid-in capital $ 24,107 $ 24,025 Accumulated deficit (12,828 ) (13,266 ) Accumulated other comprehensive income 136 17 Non-controlling interests 53 48 Total liabilities and equity $ 16,803 $ 16,799 GLOBALFOUNDRIES Inc. Condensed Consolidated Statements of Cash Flows(Unaudited, in millions) Three Months Ended June 30, 2025 June 30, 2024 Operating Activities: Net income $ 228 $ 155 Depreciation and amortization 335 402 Finance (income) expense, net and other (8 ) (28 ) Net change in working capital (136 ) (168 ) Other non-cash operating activities 12 41 Net cash provided by operating activities $ 431 $ 402 Investing Activities: Purchases of property, plant and equipment and intangible assets $ (159 ) $ (101 ) Net purchases of marketable securities (23 ) (77 ) Other investing activities (25 ) 8 Net cash used in investing activities $ (207 ) $ (170 ) Financing Activities: Proceeds from issuance of equity instruments $ 1 $ — Purchases of treasury stock — (200 ) Proceeds (repayment) of debt, net (36 ) (94 ) Net cash used in financing activities $ (35 ) $ (294 ) Effect of exchange rate changes 5 (1 ) Net change in cash and cash equivalents $ 194 $ (63 ) Cash and cash equivalents at the beginning of the period 1,596 2,247 Cash and cash equivalents at the end of the period $ 1,790 $ 2,184 GLOBALFOUNDRIES Inc. Reconciliation of IFRS to Non-IFRS(Unaudited, in millions, except for per share amounts) Three Months Ended June 30, 2025 Gross profit Selling, General & Administrative Research & Development Operating profit Other Income (Expense) Income tax (expense) benefit Net income Diluted EPS As Reported $ 408 $ 78 $ 134 $ 196 $ 8 $ 7 $ 228 $ 0.41 IFRS margins(1) 24.2 % 11.6 % 13.5 % Share-based compensation 17 (29 ) (8 ) 54 — (2 ) 52 0.09 Structural optimization(2) — (5 ) — 5 (24 ) — (19 ) (0.03 ) Amortization of acquired intangibles and other acquisition related charges — (2 ) (1 ) 3 — — 3 0.01 Litigation claims — — — — 9 (1 ) 8 0.01 Tax matters(3) — — — — — (38 ) (38 ) (0.07 ) Non-IFRS measures(1) $ 425 $ 42 $ 125 $ 258 $ (7 ) $ (34 ) $ 234 $ 0.42 Non-IFRS margins(1) 25.2 % 15.3 % 13.9 % Three Months Ended March 31, 2025 Gross profit Selling, General & Administrative Research & Development Operating profit Other Income (Expense) Income tax (expense) benefit Net income Diluted EPS As Reported $ 355 $ 77 $ 127 $ 151 $ 30 $ 16 $ 211 $ 0.38 IFRS margins(1) 22.4 % 9.5 % 13.3 % Share-based compensation 13 (20 ) (7 ) 40 — (2 ) 38 0.07 Structural optimization(2) 11 (5 ) (5 ) 21 — (3 ) 18 0.03 Amortization of acquired intangibles and other acquisition related charges — — (1 ) 1 (31 ) 6 (24 ) (0.04 ) Revaluation of equity investments — — — — (6 ) — (6 ) (0.01 ) Tax matters(3) — — — — — (48 ) (48 ) (0.09 ) Non-IFRS measures(1) $ 379 $ 52 $ 114 $ 213 $ (7 ) $ (31 ) $ 189 $ 0.34 Non-IFRS margins(1) 23.9 % 13.4 % 11.9 % Three Months Ended June 30, 2024 Gross profit Selling, General & Administrative Research & Development Operating profit Other Income (Expense) Income tax (expense) benefit Net income Diluted EPS As Reported $ 395 $ 114 $ 121 $ 155 $ (4 ) $ (12 ) $ 155 $ 0.28 IFRS margins(1) 24.2 % 9.5 % 9.5 % Share-based compensation 16 (28 ) (8 ) 52 — — 52 0.09 Restructuring charges — — — 5 — (1 ) 4 0.01 Non-IFRS measures(1) $ 411 $ 86 $ 113 $ 212 $ (4 ) $ (13 ) $ 211 $ 0.38 Non-IFRS margins(1) 25.2 % 13.0 % 12.9 % (1) See “Financial Measures (Non-IFRS)” for further discussion on these Non-IFRS measures and why we believe they are useful. (2) Structural optimization represents costs associated with employee workforce reductions, manufacturing footprint alignment and liquidation charges. (3) Comprised of net deferred tax asset recognition and foreign exchange rate impact. GLOBALFOUNDRIES Inc Reconciliation of IFRS to Non-IFRSNon-IFRS Adjusted Free Cash Flow(1)(Unaudited, in millions) Three Months Ended June 30, 2025 March 31, 2025 June 30, 2024 Net cash provided by operating activities $ 431 $ 331 $ 402 Less: Purchases of property, plant and equipment and intangible assets (159 ) (166 ) (101 ) Add: Proceeds from government grants 5 — 1 Total capital expenditure net of proceeds from government grants $ (154 ) (166 ) (100 ) Non-IFRS adjusted free cash flow(1) $ 277 $ 165 $ 302 Non-IFRS adjusted free cash flow margins(1) 16 % 10 % 19 % (1) See “Financial Measures (Non-IFRS)” for further discussion on this Non-IFRS measure and why we believe it is useful. Reconciliation of IFRS to Non-IFRSNon-IFRS Adjusted EBITDA(1)(Unaudited, in millions) Three Months Ended June 30, 2025 March 31, 2025 June 30, 2024 Net revenue $ 1,688 $ 1,585 $ 1,632 Net income 228 211 155 Net income margin 13.5 % 13.3 % 9.5 % Depreciation and amortization 335 352 402 Finance expense 22 25 37 Finance income (39 ) (39 ) (53 ) Income tax expense (benefit) (7 ) (16 ) 12 Share-based compensation 54 40 52 Restructuring charges — — 5 Structural optimization (19 ) 21 — Revaluation of equity investments — (6 ) — Litigation claims 9 — — Other acquisition related charges 2 (30 ) — Non-IFRS adjusted EBITDA(1) $ 585 $ 558 $ 610 Non-IFRS adjusted EBITDA margin(1) 34.7 % 35.2 % 37.4 % (1) See “Financial Measures (Non-IFRS)” for further discussion on this Non-IFRS measure and why we believe it is useful. GLOBALFOUNDRIES Inc. 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 financial 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 other income (expense), Non-IFRS income tax benefit (expense), 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, Non-IFRS research and development, Non-IFRS operating profit, Non-IFRS other income (expense), Non-IFRS income tax benefit (expense) and Non-IFRS net income as gross profit, selling, general and administrative, research and development, operating profit, other income (expense), income tax benefit (expense), and net income, respectively, adjusted for share-based compensation, structural optimization, amortization of acquired intangibles and other acquisition related charges, impairment of long-lived assets, revaluation of equity investments, restructuring charges, tax matters, and any associated income tax effects. We define Non-IFRS operating expense as Non-IFRS gross profit minus Non-IFRS operating profit. 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, impairment of long-lived assets, revaluation of equity investments, structural optimization, litigation claims and acquisition related charges. We define each of Non-IFRS gross margin, Non-IFRS operating margin, Non-IFRS net income margin, Non-IFRS adjusted free cash flow margin and Non-IFRS adjusted EBITDA margin as Non-IFRS gross profit, Non-IFRS operating profit, Non-IFRS net income, Non-IFRS adjusted free cash flow and Non-IFRS adjusted EBITDA, respectively, divided by net revenue. Any adjustments described above that are zero for a given period are excluded from the “Reconciliation of IFRS to Non-IFRS” table. See “Reconciliation of IFRS to Non-IFRS” section for a detailed reconciliation of Non-IFRS financial measures to the most directly comparable IFRS measure. We believe that in addition to our results determined in accordance with IFRS, these Non-IFRS financial 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. 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 comparative measures. Conference Call and Webcast Information GF will host a conference call with the financial community on Tuesday, August 5, 2025 at 8:30 a.m. U.S. Eastern Time (ET) to review the second quarter 2025 results in detail. Interested parties may join the scheduled conference call by registering at https://edge.media-server.com/mmc/p/jgpem5gd/. 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 and Third Party Data 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 continuation of conflicts in Ukraine and Israel; ongoing political developments in the United States, and in particular, any political and policy-related changes that may impact our industry and the market generally; the imposition of trade controls, tariffs and counter-tariffs between the United States and its trade partners; 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 rising inflation and any potential recession; the expected benefits of our announced partnerships may fail to materialize; 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 2024 Annual Report on Form 20-F, current reports on Form 6-K and other reports filed with the Securities and Exchange Commission (SEC). 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Semiconductor innovations transforming automotive displays July 29, 2025 Yuichi Motohashi. Dep. Director / Global Segment Lead, Automotive Display, Camera, LiDAR & SerDes, GlobalFoundries As the automotive industry accelerates toward a future defined by digital experiences and intelligent mobility, the role of semiconductor innovation has never been more critical. At the recent SID Business Conference, Yuichi Motohashi, Global Segment Lead for Automotive Display, Camera, LiDAR & SerDes at GlobalFoundries (GF), shared a compelling vision for how purpose-built semiconductor technologies are enabling the evolution of in-vehicle displays. The display-driven transformation of the cabin Modern vehicles are rapidly transforming into digital cockpits. From driver instrument clusters and center information displays (CID) to co-driver screens, e-mirrors and rear-seat entertainment systems, the number and area of automotive displays is growing exponentially. This shift is not just about aesthetics—it’s about delivering immersive, intuitive and safe user experiences. But automotive displays aren’t like any other consumer displays. They demand: High brightness (800–1000 nits) for visibility in sunlight Extended reliability under extreme conditions (up to 105°C) Longer lifespans (5–10 years) Automotive specific quality requirements such as IATF 16949 and ISO 26262 (functional safety) Custom form factors tailored to OEM needs From fragmented screens to seamless experiences Featured below, the evolution of display architecture in vehicles reflects a broader trend toward integration and immersion: Traditional architecture: Vehicles have historically used multiple small displays, each powered by its own electronic control unit (ECU). This setup offers flexibility but lacks cohesion. Integrated displays under one large lens: Today’s mainstream design integrates multiple displays under a single lens, offering a more immersive experience while allowing OEMs to mix and match panel specifications like resolution and contrast. Single large panels: Luxury vehicles are beginning to adopt large, curved single-panel displays. These offer a seamless, futuristic look and simplify the supply chain, but they also introduce challenges like higher costs, lower panel yields and potential single points of failure. Future vision – free-form panels: The next frontier is free-form, ultra-wide panels that span the entire dashboard. While not yet widely available, these displays promise unmatched design freedom and user experience—requiring deep collaboration between OEMs, Tier-1 suppliers and panel manufacturers. These architectural shifts are driving a parallel transformation in electronics from distributed ECUs to centralized infotainment domain controllers, demanding higher bandwidth, lower latency and more efficient power management to handle multiple applications — such as the instrument cluster, climate control and audio control — onto one centralized ECU. GF’s semiconductor solutions: purpose-built for automotive GlobalFoundries is uniquely positioned to meet these demands with its market-driven, application-specific platforms that deliver value in four key areas: High-voltage and low-power platforms (e.g., 55HV, 40HV, 28HV, 22FDX+HV) Advanced memory integration for local dimming and non-uniformity compensation (De-mura) Superior transistor matching for precision analog performance Automotive-qualified nodes from 180nm to 12nm As the automotive industry accelerates toward immersive, integrated in-cabin experiences, display technologies like TDDI (Touch and Display Driver Integration) and LTDI (Large Touch Driver Integration) are becoming pivotal. GlobalFoundries is at the forefront of this transformation, offering purpose-built semiconductor solutions that address the unique challenges of these advanced display systems. TDDI, often used in small to medium displays, integrates the timing controller (TCON) and touch interface, enabling full array local dimming (FALD) architecture and streamlined signal processing. High-speed interfaces like eDP are now built into TDDI, requiring efficient transistors that offer both speed and low power consumption. For ultra-wide, high-resolution displays—such as those exceeding 15 inches—LTDI steps in, requiring multiple cascaded drivers and separate timing controllers. GF’s differentiated process technologies, including 40HV and 28HV platforms, deliver the high-density logic, low-leakage SRAM and precise analog performance needed to support these complex architectures. With innovations like 34V high-voltage support in 40HV generation 2 and superior transistor matching in 28HV, GF ensures that its TDDI and LTDI solutions meet the stringent demands of automotive environments—ranging from extreme temperatures to long product lifecycles—while enabling sleek, seamless and safe user experiences. With that, GF’s AutoPro™ platform ensures quality and reliability across the entire lifecycle—from design enablement and IP to manufacturing control and certification (IATF 16949, ISO 26262, AEC-Q100). Looking ahead As display technologies continue to evolve, the semiconductor industry must keep pace. GlobalFoundries is not just keeping up—it’s leading the charge through it’s commitment to innovation, reliability and customer collaboration., With a global manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted and reliable source for customers around the world. Partnering with GF means more than access to cutting-edge technology—it means a shared vision for the future of mobility. For more information on how GF can help build advanced display devices, you can contact us anytime through gf.com or reach Yuichi Motohashi at [email protected]. Yuichi Motohashi is the Deputy Director of End Markets at GlobalFoundries, responsible for leading the global segment in automotive cameras, LiDAR, SerDes and displays, which facilitate next-generation ADAS, autonomous driving and enhanced in-cabin experiences.
Designing the future: AI innovation accelerated through university collaboration July 22, 2025 Bridging the gap between academia and industry in semiconductor innovation Behind every technological breakthrough is cutting-edge research and development happening on the grounds of universities and research institutions. Semiconductors are no exception as the relentless demand to optimize performance, maximize power efficiency and reduce costs requires constant innovation at the intersection of science and engineering. In fact, these academic-industry collaborations have deep roots, dating back to the 1940s. At Purdue University, physicist Karl Lark-Horovitz led pioneering work on germanium crystals, advancing rectifier technology for radar technology and laying critical groundwork for the invention of the transistor. Through its University Partnership Program, GlobalFoundries is bridging this gap between academia and innovation to power the next wave of chip innovation. GF’s university network is comprised of collaborations with over 80+ universities, 110+ professors and 600+ students at leading institutions across the globe, driving innovation to push the boundaries of what is possible in semiconductor R&D. Visionary research born in Princeton’s lab A shining example of this comes from Kaushik Sengupta, Professor of Electrical and Computer Engineering at Princeton University. Within the four walls of the laboratory, Professor Sengupta and his intellectually diverse team of PhD and post-doctoral students are all in on next-generation, state-of-the-art wireless sensing communication. Their groundbreaking efforts in enabling the first AI-enabled radio and millimeter-wave frequency chips earned them the prestigious IEEE IMS Advanced Practice Paper Award back in 2022 [1] and the Best Paper Award in 2023 in IEEE Journal of Solid-State Circuits [2]. With this technology at the heart of critical applications including automotive radars, autonomous systems and robotics, Sengupta and his team are dedicated to researching the future of intelligent environments and the wireless interfaces behind the scenes that enable these advancements. Before the rise of artificial intelligence tools like ChatGPT to the mainstream, this team was working on AI-enabled radio frequency integrated circuits (RFICs) poised to revolutionize the industry. The leap of AI in redefining RF circuit design Traditionally, designing these circuits has been an art, requiring extensive experience and iterative design processes that can take several months. “RFIC design sits at the intersection of circuits and electromagnetics. As you have to jump between these multiple dimensions, it becomes a really complex design process,” explains Sengupta. On top of that, these circuits operate at very high frequencies, making even the smallest parasitic elements extremely significant. Inspired by the advances in AI as seen in other scientific fields like protein folding, Professor Sengupta and his team set out to accomplish how they could change this paradigm by leveraging AI to algorithmize the design process. By training custom AI algorithms on curated data sets, they hoped to identify new, undiscovered RF circuits and electromagnetic passives and allow rapid end-to-end design of RFICs, reducing time of design from months to days. The GF chips turning research into reality This is when Professor Sengupta’s research team approached GF with their visionary idea. GF recognized the novelty of this approach and supported the research by supplying its best-performing silicon germanium technologies, especially as Professor Sengupta’s AI-driven methodology for RFIC design complemented the efforts of GF’s Reference Design team, which is deeply focused on applying AI and ML to accelerate design productivity and enhance the quality of next-generation RF solutions. Across the world through the GlobalShuttle Multi-Project Wafer Program, GF is empowering startups, researchers and system innovators to bring differentiated chip designs to life more efficiently and affordably. By aggregating multiple projects onto a single wafer, GlobalShuttle lowers the barriers to custom silicon with scalability and flexibility, allowing partners to bring their design visions to life while avoiding the cost-limitations of test silicon. This program enabled the researchers at Princeton to demonstrate the feasibility of their design concepts and secure grant funding for their continued efforts. The AI-created circuit designs break new ground The results were nothing short of revolutionary, as the team successfully fabricated the first deep learning-enabled high-frequency transmitter system using GF’s silicon germanium 9HP platform. The AI-designed circuits feature extremely complex structures that defy conventional understanding of the field. “The electromagnetic structures that came from these AI algorithms looked like very complicated QR codes,” said Professor Sengupta. By looking at it, nobody can tell what it does. However, once you add those circuit elements, the entire circuit works exceptionally well. “What this does is universalize RF circuits and RF passives. All we now have to figure out is how these active devices are connected with passives.” Since then, the group has demonstrated several advancements demonstrating AI-enabled synthesis of multi-port structures, passives, antennas [3] and even end-to-end power amplifiers with both circuit and passive co-design [4]. As a result of these efforts, the viability of these AI-designed circuits has drawn significant attention from academic, industrial and government counterparts. The project has led to numerous publications, and more notably, was selected as one of three “AIDRIFC” awardees to receive $30 million in funding from the National Semiconductor Technology Center (NSTC). What started as an intellectual curiosity has now become a research field of its own, with several leading research groups demonstrating state of the art AI-enabled RFICs. Recognizing the people powering the future of the industry The success of Professor Sengupta and his team is just one example of how meaningful collaboration between academia and industry is accelerating innovation in semiconductors. This isn’t just a story about providing researchers with the tools and support they need to innovate. It’s a spotlight on the people co-innovating to push the boundaries of what is possible. Today, circuit design isn’t an isolated discipline. It intersects with packaging, mechanical engineering, chemical engineering, algorithm signal processing and more. As with many other fields in the semiconductor industry, circuit design has grown to be a diverse and multi-disciplinary field. Continued advancement requires the cultivation of a strong pipeline of talented individuals who will drive the industry forward. As GF’s University Partnership Program continues to grow, it’s not only powering groundbreaking innovations – it’s shaping the next generation of engineers to tackle the challenges of tomorrow. References: [1] Z. Liu, E. A. Karahan and K. Sengupta, “Deep Learning-Enabled Inverse Design of 30–94 GHz Psat,3dB SiGe PA Supporting Concurrent Multiband Operation at Multi-Gb/s,” in IEEE Microwave and Wireless Components Letters, vol. 32, no. 6, pp. 724-727, June 2022, doi: 10.1109/LMWC.2022.3161979 [2] E. A. Karahan, Z. Liu and K. Sengupta, “Deep-Learning-Based Inverse-Designed Millimeter-Wave Passives and Power Amplifiers,” in IEEE Journal of Solid-State Circuits, vol. 58, no. 11, pp. 3074-3088, Nov. 2023, doi: 10.1109/JSSC.2023.3276315. [3] Karahan, E.A., Liu, Z., Gupta, A. et al. Deep-learning enabled generalized inverse design of multi-port radio-frequency and sub-terahertz passives and integrated circuits. Nat Commun 15, 10734 (2024). https://doi.org/10.1038/s41467-024-54178-1. [4] J. Zhou, E. A. Karahan, S. Ghozzy, Z. Liu, H. Jalili and K. Sengupta, “25.3 AI-Enabled Design Space Discovery and End-to-End Synthesis for RFICs with Reinforcement Learning and Inverse Methods Demonstrating mm-Wave/sub-THz PAs Between 30 and 120GHz,” 2025 IEEE International Solid-State Circuits Conference (ISSCC), San Francisco, CA, USA, 2025, pp. 1-3, doi: 10.1109/ISSCC49661.2025.10904600.
From smarter sensing to safer driving: GlobalFoundries solutions driving ADAS innovation July 9, 2025 Sudipto Bose, Vice President of Automotive at GlobalFoundries We often hear modern vehicles described as “smartphones on wheels.” But perhaps a better analogy is a human. Just as we use our senses to understand and react to the world – to see, to hear, to touch, to feel – today’s vehicles depend on an array of sensors to navigate the world around them. Cameras, radars, lidar and ultrasonic sensors work together to power advanced driver assistance systems (ADAS), enabling a safer driving experience and laying down the foundation for the future of autonomous vehicles. We spoke to Sudipto Bose, GF’s Vice President of Automotive, to dig into how ADAS has transformed since its inception, the forces propelling innovation forward and how GlobalFoundries is innovating in partnership with customers and automotive leaders to support the future of safe driving. Tell us about how ADAS has evolved over the years. What did it look like when it first began, and what does it look like now? These systems’ smart safety features in your vehicle – known as ADAS – have come a long way over the past two decades. The Mercedes-Benz S-Class was one of the early pioneers of ADAS, debuting the Distronic adaptive cruise control feature back in 1999. This version of cruise control relied strictly on radar to maintain a certain distance from the car in front of it. Fast forward to today, modern ADAS features are tapping into cameras, lidar and ultrasonic sensors to create a more comprehensive view of the driving environment. What began as a system to help with braking or maintaining distance is now evolving into something much more advanced. Now, ADAS features are taking the steering wheel both literally and figuratively, progressing to systems capable of controlling the vehicle with little human intervention. Increasingly, ADAS is not just supporting drivers, but beginning to replace them – signaling a clear shift toward fully autonomous driving. You mentioned cruise control moving beyond radar — what kinds of sensors are key to ADAS today, and what role does each one play? “Your ADAS is only as good as your sensors.” A phrase you hear often in my industry, but there is plenty of truth behind it. At GF, we play an essential role in enabling the sensing technologies that power ADAS. These sensors are the driving force behind real-time decisions made by cars, informed by the collection and analysis of data that helps the vehicle interpret its surroundings. ADAS relies on a combination of sensors, each with a distinct role. The four major types include: Camera: Cameras capture images around the car to determine speed limits, lane markings, turn signals and more. Unlike smartphone cameras designed for human viewing, automotive cameras are optimized for machine vision. So, while cars do not need a 20 megapixel camera to identify whether an object crossing the street is a human, they do need high dynamic range to perform accurately in challenging lighting conditions, whether that is directly facing a setting sun or navigating pitch-black roads. Radar: Drivers do not stop for bad weather — and radar does not either. It accurately detects objects over long distances, even in rain, snow or fog. Lidar: Think of lidar as a laser beam scanning the scene to map out the car’s surroundings. Unlike cameras and radars, lidars excel at object classification, with an ability to differentiate between a pedestrian, bicyclist, animal, car or trash can with high precision. Ultrasonic: Finally, ultrasonic sensors are used in cars to monitor the immediate surroundings of the vehicle, emitting high-frequency sound waves to measure distance to nearby obstacles – like when you hear beeping while reversing into a tight space. What forces are driving this continuous innovation in ADAS technology? One of the biggest drivers of ADAS innovation is the push for better sensing performance to ensure high-fidelity perception. Every OEM is focused on achieving the best output power of sensors to extend detection range and ensure a clear image of the vehicle’s landscape. But it is not just about fidelity — power efficiency plays a crucial role, too. Even small differences in power consumption can have major implications. For example, a sensor operating at too high of a temperature can overheat quickly. When this happens, the sensor shuts down to cool off, then restarts once it is within a more ideal temperature range, repeating over and over. This process— known as duty cycling — reduces the sensor’s uptime and reliability. Think about it this way: if you blink every half a second, you miss a lot more of what happens around you than if you blink every 3 seconds. A sensor turning on and off frequently is missing critical information. That is why low-power sensor design is a major area of focus to help sensors stay online longer and deliver more consistent data to the vehicle’s automation engine. What are the challenges OEMs are running into when it comes to enabling ADAS features, and how semiconductor technologies are shaping the future of safer vehicles? Believe it or not, aesthetics are actually one of the most critical design challenges. The reason for this is that as cars gain more ADAS features to improve vehicle safety, they take up space in the vehicle. If you have ever ridden in a self-driving car like a Waymo, you have likely had an inside look at interior displays. While as a passenger you are likely impressed by the real-time sensor data and the vehicle’s surroundings, these are not necessarily features you would want in your own personal vehicle. Let’s face it — no matter how much ADAS improves safety, most people still choose cars based on design and how they look. That puts pressure on automakers to integrate sensors discreetly, driving demand for smaller, seamlessly designed components. Technologies like silicon photonics are enabling lidar and radar systems to be integrated onto a single chip, resulting in smaller, less power-hungry sensors. This means manufacturers can add more safety features without compromising design. As the future of vehicles relies not just on adding more sensors, but on doing so elegantly, this is only possible with advanced semiconductor technologies that support high performance in miniaturized form factors. Where does GF fit into the picture, and how is it innovating for the future? At GF, we are driving the next generation of ADAS by delivering innovation that enables key automotive sensors. For cameras, our 40nm and 22nm platforms provide low-noise performance and high dynamic range to capture accurate visual data in varying light. In radar, our Silicon Germanium 8XP, RF technology and 22FDX® platform support long-range object detection with high fidelity. We are also leveraging silicon photonics on our 45SPCLO platform to combine emission, reflection, and processing on a single chip for lidar, reducing the size of sensors for seamless vehicle integration. From global leaders like Bosch, indie semiconductor and Arbe, we are proud to help our customers make next-generation ADAS features a reality. As the industry accelerates towards autonomous vehicles, we are confident our technology will play a critical role in supporting a future of safer, smarter driving. Sudipto Bose is the Vice President of Automotive End Market at GF. He leads the Automotive team focused on the key semiconductor trends in the electrified and automated software defined vehicle and formulating GF’s product and commercial strategy in that space.