GlobalFoundries, Marvell shares rise on expanded deal
17/09/2026 14:28
BUZZ-GlobalFoundries, Marvell shares rise on expanded deal ** Shares of chip firms GlobalFoundries GFS.O and Marvell Technology MRVL.O rise before the bell
** The companies expand their agreement to increase production capacity for a type of semiconductor used in high-speed optical connections in data centers
** "Our expanded collaboration with GF will help ensure we have the SiGe technology and manufacturing capacity to support the significant growth we see ahead" — Robb Johnson, vice president, foundry technology at Marvell
** Shares of GlobalFoundries rise 5% to $45.18 and Marvell up 4.6% at $240.44
** Up to last close GFS had risen ~23%, while MRVL rose ~170% this year
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))
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