Empowering your Embedded AI with 22FDX+ March 11, 2025 By Anand RangarajanDirector, End Markets, GlobalFoundries I’ll admit it: Enterprise AI is an edge-of-your-seat thriller that has rightfully garnered everybody’s attention — including mine. However, here at GlobalFoundries (GF), we’ve been watching a silent AI revolution in the embedded space that is affecting all its end markets, from the edge to the end point. Just like enterprise AI, embedded AI is doing a horizontal sweep across all applications where developers are trying to meaningfully add AI. They are keeping faster latency and data/asset protection, strong selling points for embedded AI, as an anchor while scaling AI model complexity to fit within power, performance and memory envelope of the application use case. GF’s Ultra Low Power CMOS product families are a great building block for designing your next generation Embedded AI applications. At the edge, embedded systems are looking for high performance processing to run more complex AI models. Our 12LP+ FinFET platform is ideal for these applications, providing best-in-class power, performance and area (PPA) to pack more power into a smaller chip with enhanced efficiency. As applications operate away from edge and closer or at the endpoint, there is a greater need for SoCs (System on a Chip) that maximize performance without sacrificing power efficiency. This is where our customers have been successfully using 22FDX®, our fully depleted silicon-on-insulator (SOI) process technology that delivers FinFET-class performance and energy efficiency in a planar technology. From smart home security to wearable fitness and medical devices, our 22FDX platform has been successfully utilized in a wide range of always-on, battery-operated devices that rely on responsive and reliable wireless connectivity and extreme power efficiency. Today, GF continues to push the envelope of performance and efficiency forward with the 22FDX+ platform, our latest generation FD-SOI process technology in volume production that is purpose-built for today’s demanding applications. Here’s what sets the 22FDX+ platform apart for embedded AI applications: Adaptive Body Biasing (ABB), a feature developed from a successful collaboration with our ecosystem partners at Synopsys, Racyics and Dolphin Semiconductor, dynamically adjusts transistor threshold voltage to keep the application fit within the power envelope or to incrementally add more compute power as need. ABB supports lower nominal voltage (Vnom) at 0.4v, reducing total power (mW/MHz) by 30% compared to current Vnom at 0.5v. New logic-based bitcell memory supports voltage ranges from 0.4v to 0.9v with a single rail offering up to 30% power savings and 1.8-2x performance improvement over foundry bitcell memories which are typically limited to 0.65v on a single rail and need dual rail solution to get to lower voltage. Enabling performance improvement with power efficiency, such as more inferences/second for same watt of power, takes 22FDX+ devices to the next level of vision applications*. 22FDX+ offers ultra-low leakage (ULL) SRAM retention leakage down to 0.35pA/cell (with source bias), about 5x lower than a 12nm process. An “always on” block designed with 22 FDX+ offers up to 50% lower leakage compared to other technologies. Lowering the active power is crucial in extending as much life as possible in battery-powered applications, especially asset tracking. 22 FDX+ offers a wide variety of library options (ULP, HP, ULL) supporting operating voltages (VDD) ranging from 0.4 to 0.9V and a variety of memory IPS. To find out more about how 22FDX+ and our Ultra Low Power CMOS process technologies can support your next generation Embedded AI devices, you can contact us anytime through gf.com. *On Logic mem cells, GF is working on achieving excellent power performance without area impact.
indie Semiconductor and GlobalFoundries Announce Strategic Collaboration to Accelerate Automotive Radar Adoption March 4, 2025 Silicon, software and proprietary radar system design innovation delivers step-change in radar performance enabling industry’s lowest solution cost or BOM (Bill of Materials) with smallest footprint ALISO VIEJO, Calif, March 4, 2025 – indie Semiconductor (Nasdaq: INDI), an automotive solutions innovator, has announced a strategic collaboration with GlobalFoundries (Nasdaq: GFS) (GF) to develop its portfolio of high-performance radar systems-on-chip (SoC). These SoC’s – manufactured on GF’s 22FDX® platform – will target 77 GHz and 120 GHz radar applications for advanced driver assistance systems (ADAS) and adjacent industrial applications. Automotive radar adoption is being accelerated by global vehicle safety regulation, new car assessment programs, and consumer demand for convenience features. As a result, new vehicles will feature at least four radar sensors, and this is expected to double in next-generation platforms to meet the growing use cases. indie’s 77 GHz SoCs are used in systems for both longer-range detection to monitor surroundings and detect obstacles, enabling use cases including forward collision warning (FCW), automatic emergency braking (AEB), and shorter-range applications such as blind spot detection (BSD), cross-traffic alert and automated parking. The 77 GHz radar solution is at the advanced design-in stage with a Tier 1 customer, supporting multiple automotive OEMs. The 120 GHz solutions will target in-cabin applications requiring higher resolution and precision over shorter ranges, such as occupant monitoring and detection of vital signs such as heartbeat and respiration. indie’s 120 GHz SoC supports antenna-in-package designs, enabling smaller systems to be developed without compromising performance, cost or in-cabin aesthetics. First customer samples of the 120 GHz solution are already available. For both product lines, the key challenges to overcome for Tier 1 integrators and OEMs were to deliver high performance without compromising hardware, software and system integration for the lowest total cost of ownership. indie has solved these challenges, delivering class-leading performance while driving a step change in solution cost and footprint relative to competing solutions, making this key safety technology more affordable and ubiquitous in mass-market vehicles. The design innovation and functional integration of analog, digital, RF, power management and memory functions in indie’s radar solutions are enabled by GF’s automotive-qualified 22nm fully depleted silicon-on-insulator (SOI) process technology. For automotive ADAS and processing applications that rely on responsive, always-on wireless connectivity, GF’s 22FDX platform offers FinFET-class performance and energy efficiency in a planar technology with state-of-the-art PPA (Power, Performance, Area) and RF performance. “indie has been working closely with GlobalFoundries for several years, and this strategic collaboration for our high-performance radar portfolio builds on the success of an established relationship,” said Michael Wittmann chief operating officer at indie. “Our goal is to keep our customers at the forefront of technology in the increasingly competitive automotive sector, and the combination of indie’s design innovation and the foundry’s manufacturing leadership will enable safety-critical radar-based ADAS technologies to be deployed cost-effectively across automotive and industrial mobility applications.” “Our strategic collaboration with indie is bringing exciting and innovative product solutions to the automotive and industrial mobility markets,” said Ed Kaste, senior vice president of GF’s ultra-low power CMOS product line. “As GF continues to invest in capacity and technology differentiation in our 22FDX platform and build on this partnership for indie’s next-generation solutions, customers will mutually benefit from GF’s purpose-built, automotive-grade technologies and indie’s best in class radar design innovation, ultimately delivering the highest-integrated silicon solutions that drive down the total system cost and power consumption for faster and ubiquitous market deployment.” About indie Headquartered in Aliso Viejo, CA, indie is empowering the automotive revolution with next generation semiconductors, photonics and software platforms. We focus on developing innovative, high-performance and energy-efficient technology for ADAS, in-cabin user experience and electrification applications. Our mixed-signal SoCs enable edge sensors spanning Radar, LiDAR, Ultrasound, and Computer Vision, while our embedded system control, power management and interfacing solutions transform the in-cabin experience and accelerate increasingly automated and electrified vehicles. As a global innovator, we are an approved vendor to Tier 1 partners and our solutions can be found in marquee automotive OEMs worldwide. Please visit us at www.indie.inc to learn more. 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. Safe Harbor Statement This communication contains “forward-looking statements” (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning indie Semiconductor such as the features, functionality, performance, availability, development, timing and expected benefits of indie Semiconductor products and technology, including its system basis safety solution. Such statements include, but are not limited to, statements regarding our future business and financial performance and prospects, and other statements identified by words such as “will likely result,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “plan,” “project,” “outlook,” “should,” “could,” “may” or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results included in such forward-looking statements. In addition to the factors previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the Securities and Exchange Commission on February 28, 2025 and in our other public reports filed with the SEC (including those identified under “Risk Factors” therein), the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: macroeconomic conditions, including inflation, rising interest rates and volatility in the credit and financial markets; the impacts of the ongoing conflicts in Ukraine and the Middle East; our reliance on contract manufacturing and outsourced supply chain and the availability of semiconductors and manufacturing capacity; competitive products and pricing pressures; our ability to win competitive bid selection processes and achieve additional design wins; the impact of recent acquisitions made and any other acquisitions we may make, including our ability to successfully integrate acquired businesses and risks that the anticipated benefits of any acquisitions may not be fully realized or take longer to realize than expected; our ability to develop, market and gain acceptance for new and enhanced products and expand into new technologies and markets; trade restrictions and trade tensions; our ability to build, staff and integrate new design, testing, sales and marketing facilities throughout the world; and political and economic instability in our target markets. All forward looking statements in this press release are expressly qualified in their entirety by the foregoing cautionary statements. Investors are cautioned not to place undue reliance on the forward-looking statements in this press release, which information set forth herein speaks only as of the date hereof. We do not undertake, and we expressly disclaim, any intention or obligation to update any forward-looking statements made in this announcement or in our other public filings, whether as a result of new information, future events or otherwise, except as required by law. Media Contact indie[email protected] GFStephanie Gonzalez, Corporate Communications[email protected]
GlobalFoundries and MIT Collaborate to Advance Research and Innovation on Essential Chips for AI February 27, 2025 Expanded collaboration includes joint research on GF’s leading semiconductor platforms CAMBRIDGE, Mass. and MALTA, N.Y., February 27, 2025 — GlobalFoundries (Nasdaq: GFS) (GF) and the Massachusetts Institute of Technology (MIT) today announced a new master research agreement to jointly pursue advancements and innovations for enhancing the performance and efficiency of critical semiconductor technologies. The collaboration will be led by MIT’s Microsystems Technology Laboratories (MTL) and GF’s research and development team, GF Labs. With an initial research focus on AI and other applications, the first projects are expected to leverage GF’s differentiated silicon photonics technology, which monolithically integrates RF SOI, CMOS and optical features on a single chip to realize power efficiencies for datacenters, and GF’s 22FDX® platform, which delivers ultra-low power consumption for intelligent devices at the edge. “The collaboration between MIT MTL and GF exemplifies the power of academia-industry cooperation in tackling the most pressing challenges in semiconductor research,” said Tomás Palacios, MTL Director and Clarence J. LeBel Professor of Electrical Engineering and Computer Science. Palacios will serve as the MIT faculty lead for this research initiative. “By bringing together MIT’s world-renowned capabilities with GF’s leading semiconductor platforms, we are positioned to drive significant research advancements in GF’s essential chip technologies for AI,” said Gregg Bartlett, chief technology officer at GF. “This collaboration underscores our commitment to innovation and highlights our dedication to developing the next generation of talent in the semiconductor industry. Together, we will research transformative solutions in the industry.” “Integrated circuit technologies are the core driving a broad spectrum of applications ranging from mobile computing and communication devices to automotive, energy, and cloud computing,” said Anantha P. Chandrakasan, dean of MIT’s School of Engineering, chief innovation and strategy officer, and the Vannevar Bush Professor of Electrical Engineering and Computer Science. “This collaboration allows MIT’s exceptional research community to leverage GlobalFoundries’s wide range of industry domain experts and advanced process technologies to drive exciting innovations in microelectronics across domains—while preparing our students to take on leading roles in the workforce of the future.” The new master research agreement was formalized at a signing ceremony on campus at MIT. It builds upon GF’s successful past and ongoing engagements with the university. GF serves on MTL’s Microsystems Industrial Group (MIG), which brings together industry and academia to engage in research. MIT faculty are active participants in GF’s University Partnership Program focused on joint semiconductor research and prototyping. Additionally, GF and MIT collaborate on several workforce development initiatives, including through the Northeast Microelectronics Coalition, a U.S. Department of Defense Microelectronics Commons Hub. About MTL The Microsystems Technology Laboratories (MTL) at MIT is a premier research facility driving advancements in microelectronics, nanotechnology, and semiconductor technology. MTL provides state-of-the-art infrastructure for interdisciplinary research and innovation, fostering collaborations between academia, industry, and government. With a focus on enabling transformative solutions, MTL supports a broad range of research, from foundational science to advanced applications in AI, communications, and beyond. For more information, visit mtl.mit.edu. 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 and diverse 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 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 Contacts: MIT | Meghan Melvin | [email protected] GlobalFoundries | Michael Mullaney [email protected]
GlobalFoundries Reports Fourth Quarter 2024 and Fiscal Year 2024 Financial Results February 11, 2025 MALTA, N.Y., Feb. 11, 2025 (GLOBE NEWSWIRE) — GlobalFoundries Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the fourth quarter and fiscal year ended December 31, 2024. Key Fourth Quarter Financial Highlights Revenue of $1.830 billion Gross margin of 24.5% and Non-IFRS gross margin(1) of 25.4% Operating margin of (38.3)% and Non-IFRS operating margin(1) of 15.6% Net loss of $729 million and Non-IFRS net income(1) of $256 million Diluted loss per share of $1.32 and Non-IFRS diluted earnings per share of $0.46 Non-IFRS adjusted EBITDA(1) of $661 million Ending cash, cash equivalents and marketable securities of $4.2 billion Net cash provided by operating activities of $457 million and Non-IFRS adjusted free cash flow(1) of $328 million Key Full Year 2024 Financial Highlights Revenue of $6.750 billion Gross margin of 24.5% and Non-IFRS gross margin(1) of 25.3% Net loss of $262 million and Non-IFRS net income(1) $870 million Diluted loss per share of $0.48 and Non-IFRS diluted earnings per share of $1.56 Non-IFRS adjusted EBITDA(1) of $2.475 billion Year to date net cash provided by operating activities of $1.722 billion and Non-IFRS adjusted free cash flow(1) of $1.107 billion “In the fourth quarter, the GF team delivered solid financial results that exceeded the Non-IFRS midpoint of the guidance ranges we provided in our November earnings release,” said Dr. Thomas Caulfield, President and CEO of GF. “2024 presented a unique set of challenges for our industry, but thanks to our focus on operational excellence, we generated over $1 billion of Non-IFRS adjusted free cash flow(1). As we look to 2025, we are encouraged by our strong design win momentum across our end markets and product portfolio as we position GF for a growth year.” In the fourth quarter 2024, GF recorded a $935 million impairment charge on the long-lived assets relating to legacy investments in production capacity at its facility in Malta, New York. GF undertook this action pursuant to the diversification of its long-term manufacturing technology platform roadmap in Malta, which is consistent with the Company’s previously communicated technology transfer strategy needed to meet expected long-term customer demand. Since such impairment is not expected to be a recurring event, the Company believes this additional adjustment to Non-IFRS(1) metrics better enables management and investors to make more meaningful comparisons of fourth quarter 2024 results against prior periods. Recent Business Highlights GF announced a first-of-its-kind center for advanced packaging and test capabilities, to be developed at its Malta, New York facility. Supported by grants from New York State and the U.S. Department of Commerce, GF’s Advanced Packaging and Photonics Center will help meet the growing demand for U.S.-made essential chips used in AI, automotive, aerospace and defense, and communications applications. IDEMIA and GF announced a partnership to deliver next-generation smart card technology with improved data retention, low read latency and enhanced power efficiency – saving customers cost and time. This multi-year collaboration will be 100% manufactured and tested in Europe on GF’s 28ESF3 platform, ensuring trusted providence. Lightmatter announced that it will use GF’s Fotonix™ fabrication platform to develop the industry’s most robust and scalable AI interconnect solution. By integrating electronics and photonics into a single CMOS wafer, GF’s unique solution will enable the speed and efficiency needed for future AI data centers. (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 Q4’24 Q3’24 Q4’23 Q4’24 vs Q4’23 Q4’24 vs Q3’24 Net revenue $ 1,830 $ 1,739 $ 1,854 $ (24 ) (1 )% $ 91 5 % Gross profit $ 449 $ 414 $ 525 $ (76 ) (14 )% $ 35 8 % Gross margin 24.5 % 23.8 % 28.3 % (380)bps +70bps Non-IFRS gross profit(1) $ 464 $ 429 $ 537 $ (73 ) (14 )% $ 35 8 % Non-IFRS gross margin(1) 25.4 % 24.7 % 29.0 % (360)bps +70bps Operating profit (loss) $ (701 ) $ 185 $ 303 $ (1,004 ) (331 )% $ (886 ) (479 )% Operating margin (38.3 )% 10.6 % 16.3 % (5,460)bps (4,890)bps Non-IFRS operating profit(1) $ 285 $ 236 $ 383 $ (98 ) (26 )% $ 49 21 % Non-IFRS operating margin(1) 15.6 % 13.6 % 20.7 % (510)bps +200bps Net income (loss) $ (729 ) $ 178 $ 278 $ (1,007 ) (362 )% $ (907 ) (510 )% Net income (loss) margin (39.8 )% 10.2 % 15.0 % (5,480)bps (5,000)bps Non-IFRS net income(1) $ 256 $ 229 $ 356 $ (100 ) (28 )% $ 27 12 % Non-IFRS net income margin(1) 14.0 % 13.2 % 19.2 % (520)bps +80bps Diluted earnings (loss) per share (“EPS”) $ (1.32 ) $ 0.32 $ 0.50 $ (1.82 ) (364 )% $ (1.64 ) (513 )% Non-IFRS diluted EPS(1) $ 0.46 $ 0.41 $ 0.64 $ (0.18 ) (28 )% $ 0.05 12 % Non-IFRS adjusted EBITDA(1) $ 661 $ 627 $ 773 $ (112 ) (14 )% $ 34 5 % Non-IFRS adjusted EBITDA margin(1) 36.1 % 36.1 % 41.7 % (560)bps 0bps Cash from operating activities $ 457 $ 375 $ 684 $ (227 ) (33 )% $ 82 22 % Wafer shipments (300mm equivalent) (in thousands) 595 549 552 43 8 % 46 8 % (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 Annual Results (Unaudited, in millions, except per share amounts and wafer shipments) Year-over-year FY2024 FY2023 FY2024 vs FY2023 Net revenue $ 6,750 $ 7,392 $ (642 ) (9 )% Gross profit $ 1,651 $ 2,101 $ (450 ) (21 )% Gross margin 24.5 % 28.4 % (390)bps Non-IFRS gross profit(1) $ 1,709 $ 2,149 $ (440 ) (20 )% Non-IFRS gross margin(1) 25.3 % 29.1 % (380)bps Operating profit (loss) $ (214 ) $ 1,129 $ (1,343 ) (119 )% Operating margin (3.2 )% 15.3 % (1,850)bps Non-IFRS operating profit(1) $ 920 $ 1,369 $ (449 ) (33 )% Non-IFRS operating margin(1) 13.6 % 18.5 % (490)bps Net income (loss) $ (262 ) $ 1,018 $ (1,280 ) (126 )% Net income (loss) margin (3.9 )% 13.8 % (1,770)bps Non-IFRS net income(1) $ 870 $ 1,251 $ (381 ) (30 )% Non-IFRS net income margin(1) 12.9 % 16.9 % (400)bps Diluted EPS $ (0.48 ) $ 1.83 $ (2.31 ) (126 )% Non-IFRS diluted EPS(1) $ 1.56 $ 2.24 $ (0.68 ) (30 )% Non-IFRS adjusted EBITDA(1) $ 2,475 $ 2,763 $ (288 ) (10 )% Non-IFRS adjusted EBITDA margin(1) 36.7 % 37.4 % (70)bps Cash from operating activities $ 1,722 $ 2,125 $ (403 ) (19 )% Wafer shipments (300mm equivalent) (in thousands) 2,124 2,211 (87 ) (4 )% (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 First Quarter 2025 Guidance (Unaudited, in millions, except per share amounts)(1) IFRS Share-based compensation Non-IFRS (2) Net revenue $1,550 – $1,600 Gross profit $325 – $370 $14 – $16 $341 – $384 Gross margin(3) (mid-point) 22.1% 23.0% Operating profit $94 – $167 $47 – $57 $151 – $214 Operating margin(3) (mid-point) 8.3% 11.6% Net income (4) $78 – $142 $47 – $57 $135 – $189 Net income margin(3) (mid-point) 7.0% 10.3% Diluted EPS $0.14 – $0.26 $0.24 – $0.34 (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 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. See “Financial Measures (Non-IFRS)” for further discussion on these Non-IFRS measures and why we believe they are useful. (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). See “Financial Measures (Non-IFRS)” for further discussion on these Non-IFRS measures and why we believe they are useful. (4) Included in net income is net interest income and other income and expense which we estimate will be between $0 and $8 million for the first quarter 2025. Also included in net income is income tax expense which we estimate will be between $16 million and $33 million for the first quarter 2025. GlobalFoundries Inc. Consolidated Statements of Operations (Unaudited, in millions, except for per share amounts) Three Months Ended Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net revenue $ 1,830 $ 1,854 $ 6,750 $ 7,392 Cost of revenue 1,381 1,329 5,099 5,291 Gross profit $ 449 $ 525 $ 1,651 $ 2,101 Operating expenses: Research and development 121 105 496 428 Selling, general and administrative 93 87 427 473 Restructuring charges 1 30 7 71 Impairment of long-lived assets 935 — 935 — Total operating expenses $ 1,150 $ 222 $ 1,865 $ 972 Operating profit (loss) $ (701 ) $ 303 $ (214 ) $ 1,129 Finance income (expense), net 15 8 56 12 Other income (expense) (1 ) (12 ) (12 ) (57 ) Income tax expense (42 ) (21 ) (92 ) (66 ) Net income (loss) $ (729 ) $ 278 $ (262 ) $ 1,018 Attributable to: Shareholders of GlobalFoundries (730 ) 277 (265 ) 1,020 Non-controlling interest 1 1 3 (2 ) EPS: Basic $ (1.32 ) $ 0.50 $ (0.48 ) $ 1.85 Diluted $ (1.32 ) $ 0.50 $ (0.48 ) $ 1.83 Shares used in EPS calculation: Basic 553 553 553 552 Diluted 553 557 553 556 GlobalFoundries Inc. Condensed Consolidated Statements of Financial Position (Unaudited, in millions) December 31, 2024 December 31, 2023 Assets: Cash and cash equivalents $ 2,192 $ 2,387 Marketable securities 1,194 1,033 Receivables, prepayments and other 1,406 1,420 Inventories 1,624 1,487 Current assets $ 6,416 $ 6,327 Deferred tax assets $ 188 $ 241 Property, plant and equipment, net 7,762 9,829 Right-of-use assets 498 335 Marketable securities 839 468 Other assets 1,096 844 Non-current assets $ 10,383 $ 11,717 Total assets $ 16,799 $ 18,044 Liabilities and equity: Current portion of long-term debt $ 753 $ 571 Other current liabilities 2,291 2,528 Current liabilities $ 3,044 $ 3,099 Non-current portion of long-term debt $ 1,053 $ 1,801 Non-current portion of lease obligations 424 350 Other liabilities 1,454 1,643 Non-current liabilities $ 2,931 $ 3,794 Total liabilities $ 5,975 $ 6,893 Shareholders’ equity: Common stock / additional paid-in capital $ 24,025 $ 24,038 Accumulated deficit (13,266 ) (13,001 ) Accumulated other comprehensive income 17 67 Non-controlling interest 48 47 Total liabilities and equity $ 16,799 $ 18,044 GlobalFoundries Inc. Condensed Consolidated Statements of Cash Flows (Unaudited, in millions) Three Months Ended Year Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Operating Activities: Net income (loss) $ (729 ) $ 278 $ (262 ) $ 1,018 Depreciation and amortization 378 402 1,568 1,451 Finance (income) expense, net and other (28 ) (21 ) (38 ) (21 ) Impairment of long-lived assets 935 — 935 — Other non-cash operating activities (8 ) 49 138 184 Net change in working capital (91 ) (24 ) (619 ) (507 ) Net cash provided by operating activities $ 457 $ 684 $ 1,722 $ 2,125 Investing Activities: Purchases of property, plant and equipment and intangible assets $ (135 ) $ (228 ) $ (625 ) $ (1,804 ) Acquisitions, net of cash acquired — — (69 ) — Net purchases of marketable securities 14 4 (496 ) 474 Other investing activities 29 129 65 (552 ) Net cash used in investing activities $ (92 ) $ (95 ) $ (1,125 ) $ (1,882 ) Financing Activities: Proceeds from issuance of equity instruments and other $ — $ 1 $ 21 $ 47 Purchases of treasury stock — — (200 ) — Proceeds (repayment) of debt, net (452 ) (88 ) (606 ) (259 ) Net cash used in financing activities $ (452 ) $ (87 ) $ (785 ) $ (212 ) Effect of exchange rate changes (7 ) 5 (7 ) 4 Net change in cash and cash equivalents $ (94 ) $ 507 $ (195 ) $ 35 Cash and cash equivalents at the beginning of the period 2,286 1,880 2,387 2,352 Cash and cash equivalents at the end of the period $ 2,192 $ 2,387 $ 2,192 $ 2,387 GlobalFoundries Inc. Reconciliation of IFRS to Non-IFRS (Unaudited, in millions, except for per share amounts) Three Months Ended Year Ended December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net Revenue $ 1,830 $ 1,739 $ 1,854 $ 6,750 $ 7,392 Gross profit $ 449 $ 414 $ 525 $ 1,651 $ 2,101 Gross margin 24.5 % 23.8 % 28.3 % 24.5 % 28.4 % Share-based compensation 15 15 12 58 48 Non-IFRS gross profit(1) $ 464 $ 429 $ 537 $ 1,709 $ 2,149 Non-IFRS gross margin(1) 25.4 % 24.7 % 29.0 % 25.3 % 29.1 % Selling, general and administrative $ 93 $ 98 $ 87 $ 427 $ 473 Share-based compensation 22 27 30 98 96 Structural optimization(2) 2 — — 2 — Non-IFRS selling, general and administrative(1) $ 69 $ 71 $ 57 $ 327 $ 377 Research and development $ 121 $ 130 $ 105 $ 496 $ 428 Share-based compensation 8 8 8 31 25 Structural optimization(2) 1 — — 1 — Amortization of acquired intangibles and other acquisition related charges 2 — — 2 — Non-IFRS research and development(1) $ 110 $ 122 $ 97 $ 462 $ 403 Operating profit (loss) $ (701 ) $ 185 $ 303 $ (214 ) $ 1,129 Operating margin (38.3 )% 10.6 % 16.3 % (3.2 )% 15.3 % Share-based compensation 45 50 50 187 169 Structural optimization(2) 3 — — 3 — Amortization of acquired intangibles and other acquisition related charges 2 — — 2 — Impairment of long-lived assets 935 — — 935 — Restructuring charges 1 1 30 7 71 Non-IFRS operating profit(1) $ 285 $ 236 $ 383 $ 920 $ 1,369 Non-IFRS operating margin(1) 15.6 % 13.6 % 20.7 % 13.6 % 18.5 % Net income (loss) $ (729 ) $ 178 $ 278 $ (262 ) $ 1,018 Net income (loss) margin (39.8 )% 10.2 % 15.0 % (3.9 )% 13.8 % Share-based compensation 45 50 50 187 169 Structural optimization(2) 3 — — 3 — Amortization of acquired intangibles and other acquisition related charges 2 — — 2 — Impairment of long-lived assets 935 — — 935 — Restructuring charges 1 1 30 7 71 Income tax effect(2) (1 ) — (2 ) (2 ) (7 ) Non-IFRS net income(1) $ 256 $ 229 $ 356 $ 870 $ 1,251 Non-IFRS net income margin(1) 14.0 % 13.2 % 19.2 % 12.9 % 16.9 % Diluted earnings (loss) per share $ (1.32 ) $ 0.32 $ 0.50 $ (0.48 ) $ 1.83 Share-based compensation 0.09 0.09 0.09 0.34 0.30 Structural optimization(2) 0.01 — — 0.01 — Amortization of acquired intangibles and other acquisition related charges — — — — — Impairment of long-lived assets 1.68 — — 1.68 — Restructuring charges — — 0.05 0.01 0.13 Income tax effect(3) — — — — (0.02 ) Diluted shares outstanding 556 555 557 556 556 Non-IFRS diluted EPS(1) $ 0.46 $ 0.41 $ 0.64 $ 1.56 $ 2.24 (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 reduction. (3) Relates to restructuring charges, structural optimization and amortization of acquired intangibles and other acquisition related charges. GlobalFoundries Inc. Reconciliation of IFRS to Non-IFRS Non-IFRS Adjusted Free Cash Flow(1) (Unaudited, in millions) Three Months Ended Year Ended December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net cash provided by operating activities $ 457 $ 375 $ 684 $ 1,722 $ 2,125 Less: Purchases of property, plant and equipment and intangible assets (135 ) (162 ) (228 ) (625 ) (1,804 ) Add: Proceeds from government grants(2) 6 3 — 10 — Non-IFRS adjusted free cash flow(1) $ 328 $ 216 $ 456 $ 1,107 $ 321 (1) See “Financial Measures (Non-IFRS)” for further discussion on this Non-IFRS measure and why we believe it is 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. Reconciliation of IFRS to Non-IFRS Non-IFRS Adjusted EBITDA (Unaudited, in millions) Three Months Ended Year Ended December 31, 2024 September 30, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net revenue $ 1,830 $ 1,739 $ 1,854 $ 6,750 $ 7,392 Net income (loss) for the period (729 ) 178 278 (262 ) 1,018 Net income (loss) margin (39.8 )% 10.2 % 15.0 % (3.9 )% 13.8 % Depreciation and amortization 378 396 402 1,568 1,451 Finance expense 34 37 35 145 137 Finance income (49 ) (52 ) (43 ) (201 ) (149 ) Income tax expense (benefit) 42 17 21 92 66 Share-based compensation 45 50 50 187 169 Restructuring charges 1 1 30 7 71 Impairment of long-lived assets 935 — — 935 — Structural optimization 3 — — 3 — Other acquisition related charges 1 — — 1 — Non-IFRS adjusted EBITDA(1) $ 661 $ 627 $ 773 $ 2,475 $ 2,763 Non-IFRS adjusted EBITDA margin(1) 36.1 % 36.1 % 41.7 % 36.7 % 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 diluted earnings per share (“EPS”), Non-IFRS adjusted EBITDA, Non-IFRS adjusted free cash flow and any related margins. We define Non-IFRS gross profit, Non-IFRS selling, general and administrative, Non-IFRS research and development, Non-IFRS operating profit and Non-IFRS net income as gross profit, selling, general and administrative, research and development, operating profit 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, restructuring charges 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, structural optimization and acquisition related charges. We define Non-IFRS gross margin, Non-IFRS operating margin, Non-IFRS net income margin and Non-IFRS adjusted EBITDA margin as Non-IFRS gross profit, Non-IFRS operating profit, Non-IFRS net income 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. In the fourth quarter 2024, GF recorded a $935 million impairment charge on the long-lived assets relating to legacy investments in production capacity at its facility in Malta, New York. GF undertook this action pursuant to the diversification of its long-term manufacturing technology platform roadmap in Malta, which is consistent with the Company’s previously communicated technology transfer strategy needed to meet expected long-term customer demand. Since such impairment is not expected to be a recurring event, the Company believes this additional adjustment to Non-IFRS metrics better enables management and investors to make more meaningful comparisons of fourth quarter 2024 results against prior periods. 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, February 11, 2025 at 8:30 a.m. U.S. Eastern Time (ET) to review the fourth quarter and full year 2024 results in detail. Interested parties may join the scheduled conference call by registering at https://register.vevent.com/register/BIe37b8e7058dd4737aeed44b03d7f527d. 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 continuation of conflicts in Ukraine and Israel; domestic political developments following the change in the U.S. administration; 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; 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 (SEC). 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]
GlobalFoundries Announces Leadership Transition to Drive Next Phase of Growth February 5, 2025 Dr. Thomas Caulfield appointed Executive Chairman, Tim Breen named CEO and Niels Anderskouv named President and COO MALTA, N.Y., February 5, 2025 – GlobalFoundries (Nasdaq: GFS) (GF) today announced, following a rigorous succession planning process, its Board of Directors has appointed Dr. Thomas Caulfield as Executive Chairman and Tim Breen as Chief Executive Officer. Caulfield succeeds Ahmed Yahia who will step down from the Board and his role as Chairman after more than a decade in the position. Breen, who has been with GF since 2018, and is currently Chief Operating Officer (COO), succeeds Caulfield. In addition, Niels Anderskouv, currently GF’s Chief Business Officer, has been appointed GF’s President and COO. With a strong foundation in place, this leadership transition positions GF to accelerate its next phase of growth. These changes will become effective April 28, 2025. “I am extremely proud of all that we have accomplished at GF,” said Yahia. “In partnership with our customers, we have built GF into a leading semiconductor manufacturer, with a differentiated technology portfolio and a truly global footprint. With a solid strategic foundation and strong execution capabilities in place, it’s the right time to take the company to the next level. In this context, the Board and Tom selected Tim as its new CEO. Tim has a clear vision for GF, a well-articulated strategy, an impeccable operational track record and a proven ability to drive business performance. The Board is also delighted that Tom will remain closely engaged with the company in his new capacity of Executive Chairman and will continue to focus on strategic industry, academia and government partnerships. Tom has been a superb leader for the company, a values-driven CEO who put the company on the path to sustained success. We are deeply grateful for his leadership over the past seven years.” “Following a thoughtful, multi-year succession planning process the board unanimously selected Tim to be GF’s next CEO,” said David Kerko, Lead Independent Director of the GF Board. “We are confident he is the right person to guide GF forward and are excited to work closely with him as the company continues to build on its strong momentum.” “I am truly honored and excited to be appointed as the next CEO of GF,” said Breen. “GF is uniquely positioned with our talented team, differentiated technology and geographically diverse manufacturing footprint to meet our global customers’ needs. I appreciate the confidence that the Board has placed in me, and I look forward to partnering with Tom and Niels to expand our portfolio, deepen our customer focus, accelerate our growth and deliver increasing value for our shareholders.” “Since joining GF, Tim has played a critical role as my co-pilot in shaping the strategy of the company,” said Caulfield. “In his current role as COO, Tim has made a tremendous impact integrating GF’s global operations and driving performance while accelerating our digital and sustainability transformations. As the AI wave moves from cloud to edge, GF is uniquely positioned to accelerate growth and continue to innovate, deliver and create value for all our stakeholders, and I am fully confident in Tim’s ability to lead the company into this next phase.” “I am also looking forward to Niels assuming an even greater responsibility for end-to-end execution of commercial strategy, product differentiation and global manufacturing,” continued Caulfield. “Since joining the team in 2023, Niels has set a clear strategy for building differentiated products, value-added services and establishing durable partnerships with our customers. Together, Tim and Niels have the vision and experience to guide the company forward.” “Finally, I want to express my deepest gratitude to Ahmed for his tireless efforts and exceptional leadership over the past eleven years,” said Caulfield. “His vision and dedication have been instrumental in shaping GF into the company it is today.” Caulfield became President and CEO of GF in 2018. During his tenure he repositioned the technology portfolio to focus on differentiated, essential chips and steered the company to sustainable profitability. In 2021, he spearheaded GF’s IPO, one of the largest semiconductor IPOs in history. Amid a global chip shortage, he focused on building resilient supply chains, investing in new manufacturing capacity and forging partnerships with key customers and governments. Breen oversees the company’s global operations, including the manufacturing, quality, supply chain and IT teams, based in New York. Prior to becoming COO in 2023, he served in various senior executive roles encompassing strategy, business transformation and finance as a close partner and advisor to the CEO since 2018. Prior to joining GF, Breen was a senior member of the executive team at Mubadala Investment Company where he led global projects and investments across numerous sectors from energy and industrials to consumer and life sciences, including contributing to the creation of several multi-billion-dollar companies. He has also served on the board of several public and private companies, including his current position of Chairman of NOVA Chemicals. Earlier in his career, after graduating from the London Business School, he was a partner at McKinsey & Company. Anderskouv joined GF as Chief Business Officer in 2023 with responsibilities for leading GF’s product and technology roadmap, business and commercial strategy as well as the company’s go-to-market execution. He brings more than 25 years of experience in engineering, manufacturing, executive management and global leadership in the semiconductor industry. Prior to joining GF, he served as Senior Vice President and Executive Officer at Texas Instruments, where he was responsible for the company’s multi-billion-dollar Analog Power business. Anderskouv holds a Master of Science in Electrical Engineering from the Technical University of Denmark (DTU) in Copenhagen. GF will host a conference call on Tuesday, February 11, 2025, at 8:30 a.m. ET to review the company’s fourth quarter and full-year 2024 financial results. The leadership team welcomes interested parties to join the scheduled conference call by registering here. The company’s financial results and a webcast of the conference call will be available on GF’s Investor Relations website at https://investors.gf.com. 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 and diverse 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 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. GF Contacts: Erica McGill, Corporate Communications[email protected] Eric Chow, Investor Relations[email protected]
EXTOLL collaborates with BeammWave and GlobalFoundries as a Key SerDes IP Partner for Lowest Power High-Speed ASIC January 30, 2025 Mannheim, Germany, January 30, 2025 — EXTOLL, a leading provider of high-speed and ultra-low-power SerDes and Chiplet connectivity, has been selected by BeammWave, an innovation leader in mmWave 5G/6G digital beamforming, as a key SerDes IP supplier for its next gen communication ASIC development portfolio on GlobalFoundries’ (GF) 22nm FD-SOI process technology, 22FDX®. “This collaboration emphasizes EXTOLL´s strength in ultra-low power design, particularly on GF’s 22FDX process geometry enabling future communication innovations. We are happy and honored to jointly work with BeammWave on creating solutions for breakthrough digital beamforming technology,” says Dirk Wieberneit, CEO of EXTOLL. EXTOLL´s IP is optimized to deliver highest speeds at smallest footprint and lowest power consumption, enabling a super energy-efficient solution for chiplet-based systems and providing a unique solution for the rising demand on multiple lanes connections. The complete SerDes IP core supports line speeds up to 32 Gbps per lane and comes with generic support of various protocols and available on GF’s 22FDX, 12LP and 12LP+ platforms. GF’s 22FDX process technology offers superior RF/Mixed-Signal performance, power efficiency, SoC integration and radiation-hardened reliability for technologies in the communications infrastructure and SATCOM markets. 22FDX is the only fully depleted SOI solution that combines high-performance RF capabilities with high-speed, high-density digital logic, ensuring efficient and reliable connectivity for various applications like beamforming, which demand both power efficiency and high-speed connectivity. “We are thrilled to partner with EXTOLL on their industry leading Very Short Reach SerDes technology in 22nm,“ said Per-Olof Brandt, Chief Technology Officer at BeammWave. “Extoll is continuing to innovate on this important process node for us, enabling a unique solution for best-in-class power and performance that our customers need. This makes them a perfect fit for BeammWave´s ambitious mmWave products for 5G and 6G.” “As we see an increasing market demand for our 22FDX process technology in various beamforming applications, we are delighted to see our IP partner EXTOLL continuing to innovate on this node, enabling next-generation chiplet solutions based on their ultra-low power interconnect technologies,” said Ziv Hammer, Senior Vice President of Design Platforms and Services at GlobalFoundries. “GF remains fully committed to working with our partners and customers to deliver solutions for essential technologies that support global connectivity.” Please address your inquiries to [email protected] and visit our website at www.extoll.com. About EXTOLL EXTOLL, a leading supplier of high-speed and ultra-low power SerDes and Chiplet connectivity, designs and develops semiconductor IP with the smallest footprints and highest PPA in the industry, serving the worldwide market of ASIC, SoC- and Chiplet-Makers in various segments. The portfolio provides customers with tailored solutions for their systems covering NoC (Network-on-Chip) and Die-to-Die interfaces. EXTOLL delivers innovative solutions to enable customers to successfully migrate into the Chiplet Age. Find out more about our products and solutions – please visit us at www.extoll.com About BeammWave BeammWave AB are experts in communication solutions for frequencies over 24GHz. The company is building a solution intended for 5G and 6G, in the form of a radio chip with antenna and associated algorithms. The company’s approach with digital beamforming is unique and patented, with the aim of delivering a solution with higher performance at a lower cost. The company’s Class B shares (BEAMMW B) are listed on the Nasdaq First North Growth Market in Stockholm. About GlobalFoundries 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 and diverse team delivers results with an unyielding focus on security, longevity, and sustainability. For more information, visit www.gf.com.
Celebrating GF’s Julio Costa, IEEE Fellow Class of 2025 January 29, 2025 GlobalFoundries (GF) is thrilled to celebrate the accomplishment of Julio Costa, our vice president of RF technology, being named among the IEEE Fellow Class of 2025. This prestigious recognition, the highest level of membership in the world’s largest technical professional organization, was awarded for his significant contributions to the development of RF silicon-on-insulator (SOI) technologies and circuits for mobile applications. Julio’s journey in the semiconductor industry spans nearly three decades, marked by groundbreaking innovations and a relentless pursuit of excellence. His work has not only advanced RF technology but has also helped position GF as the leading global manufacturer and design solutions provider of essential RF chips. Foundry Files sat down with Costa to discuss his thoughts on being named an IEEE Fellow, his journey with RF SOI technology, the challenges he faced, advice for aspiring inventors, and his vision for the future of RF chips. Julio Costa Q: Thank you for taking the time to meet! What was your initial reaction upon learning that you were elected an IEEE Fellow? Costa: I was extremely honored and just really humbled by the award. It’s something that every researcher in the electronic semiconductor area aspires to achieve. This recognition represents the culmination of over 20 years of hard work and dedication. It’s a testament to the pioneering contributions made in the development of RF SOI technology, which was virtually non-existent until the early 2000s. Can you explain the significance of RF SOI technology and its impact on the industry? RF SOI technology has been a game-changer for the mobile wireless industry. When we started this journey in the early 2000s, the industry relied on gallium arsenide switches, which were bulky, expensive and limited in performance. We set out to develop a silicon-based solution that would overcome these limitations. Today, RF SOI technology is a multi-billion-dollar market, and its switches and tuners are ubiquitous in modern cell phones, tablets and other devices. It’s hard to imagine life in 2025, with all of the gadgets we rely on, without RF SOI technology! What were some of the speed bumps along the path of RF SOI technology’s journey from the early 2000s to today? The development of RF SOI technology was not without its challenges, for everyone in the industry. For example, we discovered that having substrates with too high resistivity negatively impacted performance. It was a very subtle issue, but through perseverance and dedication, we were able to overcome these setbacks and achieve significant advancements. Linearity and power handling required the invention of specific SOI layers to overcome some very fundamental issues. Where are GF’s RF chips making a difference today? GF has established itself as a leader in the RF SOI market through innovation and excellence. Our RF chips are critical components in a wide range of end-markets, including smart mobile devices, communications infrastructure, automotive, Internet of Things (IoT), and aerospace and defense. For example, GF has led the way for 5G adoption in the cellular industry with our 7SW and 8SW RF SOI platforms that can be found in approximately 80% of all smartphones on the market. Our 9SW RF SOI platform, which we launched in 2024, is positioned for leadership in 5G and beyond. Not to mention our low power 22FDX platform, which delivers superior power efficiency and performance to RF devices across the world, from your smartphone to satellites and every stop between. You are a prolific inventor with more than 60 patents. What advice would you offer to young engineers aspiring to innovate and make an impact in the semiconductor industry? Perseverance is key. Find an area that you love and that you believe has potential for significant improvement and really dedicate yourself to it. Building strong relationships with experts in the field and being open to learning from them is also crucial. There will be setbacks, but it’s important to hold on, believe in the technology, and keep pushing forward. What is your approach to leadership? I consider myself a hands-on leader who enjoys getting involved in the technical aspects of projects while also focusing on strategic thinking. I value approachability and encourage open communication within my team. What’s next for RF? The future of RF technology is very exciting. We are facing challenges such as the increasing demand for high data rates, lower latency, and increasing congestion of existing frequency bands. New frequency bands between 6 GHz and 15 GHz will be crucial in meeting this demand. Additionally, AI will drive the need for higher data rates, and we are developing innovative solutions to address these emerging needs. Technologies like 3D heterogeneous engineering and RF gallium nitride will play a significant role in the future of RF technology. When you’re not in the lab or the office, what do you enjoy doing? Outside of work, I enjoy playing the piano, scuba diving and traveling. These hobbies provide me with a sense of relaxation and fulfillment outside of my professional life. Thank you again for taking the time, and congratulations again on your well-deserved honor! My pleasure, thank you!
