US Stocks Move: GlobalFoundries surges over 16% pre-market

Glonghui July 29｜A semiconductor wafer foundry soared more than 16% in pre-market trading on a certain exchange. According to reports, the US has announced a semiconductor R&D investment letter of intent totaling $874 million, with up to $300 million in funding to be provided to the exchange. The companies signing the letter of intent include Kepler, Multibeam, and Extropic. The US will make minority equity investments in each company to provide funding.