Why GlobalFoundries Stock Skyrocketed This Week
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GlobalFoundries (GFS +5.27%) stock rocketed higher in this week's trading. The semiconductor company's share price gained 20.6% across the period. Meanwhile, the S&P 500 index's level increased 0.9%, and the Nasdaq Composite's level was up 0.5%. GlobalFoundries stock saw big gains this week in conjunction with the announcement of new quantum computing initiatives and the announcement of major new support for the quantum industry from the U.S. government. The company's stock is now up 145% in 2026. Image source: Getty Images. GlobalFoundries soars on big quantum news On May 21, GlobalFoundries published a press release announcing the launch of Quantum Technology Solutions -- a new business unit within the company focusing on manufacturing tech for the quantum computing industry. Along with the announcement, the company revealed that it had secured a letter of intent for a $375 million investment from the U.S. Department of Commerce. The partnership will see the Department of Commerce investing directly in GlobalFoundries, and the company will use the investment capital to bolster its manufacturing capabilities for quantum tech. ExpandNASDAQ: GFSGlobalFoundriesToday's Change(5.27%) $4.29Current Price$85.64Key Data PointsMarket Cap$48BDay's Range$85.06 - $89.9052wk Range$31.51 - $89.90Volume11.8MAvg Vol4.3MGross Margin26.11% What's next for GlobalFoundries? GlobalFoundries is gearing up to increase its ability to manufacture full-stack quantum computing solutions. The company is making moves to ensure that it can produce quantum processor units, cryogenic read-out and control integrated circuits, and packaging and superconducting solutions. In response to the Quantum Technology Solutions announcement and Department of Commerce Investment news, TD Cowen named Global Foundries one of the three biggest winners of the U.S. government's latest quantum investing push -- alongside Rigetti Computing and D-Wave Quantum. With GlobalFoundries receiving a major vote of confidence from the U.S. government, the company is emerging as a top pick-and-shovel play in the quantum space. Read NextMay 5, 2026 •By Motley Fool TranscribingGlobalFoundries (GFS) Q1 2026 Earnings TranscriptApr 26, 2026 •By Micah ZimmermanPrediction: The Artificial Intelligence (AI) Supercycle Will Survive the Iran War. But the Supply Chain That Feeds It Just Changed Forever.May 24, 2026 •By Keithen DruryMissed the First AI Wave? These 3 Stocks Are Still Genius Picks.May 24, 2026 •By Jack DelaneyIs It Too Late to Buy Nvidia Stock? Here's What the Numbers Say.May 24, 2026 •By Marc Guberti3 Ridiculously Cheap AI Stocks That Could Turn $5,000 Into at Least $10,000 by 2028About the AuthorKeith Noonan is a contributing writer at The Motley Fool covering technology, consumer goods, and other sectors. He holds a bachelor’s degree in English from Boston College.TMFNoonsStocks MentionedGlobalFoundriesNASDAQ: GFS$85.64(+5.27%)+$4.29D-Wave QuantumNYSE: QBTS$29.20(+13.44%)+$3.46Rigetti ComputingNASDAQ: RGTI$26.44(+19.94%)+$4.40*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.