GlobalFoundries Inc. (NASDAQ:GFS) shares are trending Wednesday after the company announced a strategic Memorandum of Understanding with SEALSQ Corp (NASDAQ:LAES) to co-develop Post-Quantum Cryptography and quantum computing technologies.
- GlobalFoundries stock is under selling pressure. Why is GFS stock retreating?
The Partnership
Under the MoU, GlobalFoundries and SEALSQ will collaborate across three areas: developing pre-certified PQC security IP blocks and Chiplet Hardware Security Module components in partnership with MIPS, a GF company; advancing cryogenic CMOS for quantum computing through the design and development of cryoelectronic ASICs operating at ultra-low temperatures; and supporting European and U.S. sovereign supply chain priorities through trusted, traceable, and secure semiconductor production.
The collaboration leverages GlobalFoundries’ process technology leadership and U.S. manufacturing capabilities alongside SEALSQ’s expertise in hardware-based certified security and PQC-ready silicon solutions.
“This partnership is about building the foundation for the quantum era: trusted digital infrastructure secured by Post-Quantum Cryptography and the semiconductor technologies that will enable future quantum computing systems,” said Nicholas Sergeant, Vice President of Quantum Technology Solutions at GlobalFoundries. “Together, we are uniquely positioned to give customers and partners the technologies needed to secure and enable the quantum future.”
GlobalFoundries Shares Slide
GFS Price Action: At the time of publication, GlobalFoundries shares are trading 1.99% lower at $64.53, according to data from Benzinga Pro.
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