Why GlobalFoundries Stock Skyrocketed This Week

GlobalFoundries’ stock rose sharply this week, gaining 20.6% after the company announced a major push into quantum computing. On May 21, the semiconductor manufacturer launched Quantum Technology Solutions, a new business unit dedicated to producing quantum computing hardware, including processors, cryogenic circuits, and packaging solutions. The company also revealed a $375 million investment commitment from the U.S. Department of Commerce, aimed at strengthening its quantum manufacturing capabilities. This funding marks a direct partnership between the government and GlobalFoundries, reinforcing the company’s role in supporting the growing quantum industry. GlobalFoundries is now expanding its production capacity to deliver full-stack quantum solutions, including superconducting components and control systems. Analysts at TD Cowen highlighted the company as one of the top beneficiaries of the U.S. government’s recent quantum computing investments, alongside Rigetti Computing and D-Wave Quantum. With its stock up 145% in 2026 and strong government backing, GlobalFoundries is emerging as a leading supplier for quantum technology infrastructure. The move positions the company as a key player in the high-growth quantum computing sector, driven by both private and public sector demand.