GlobalFoundries to receive up to $300 million in US funding

July 29th, according to a report by Zhitong Finance, the United States announced a letter of intent for semiconductor research and development investment totaling $874 million. The US announced that semiconductor wafer foundry company GlobalFoundries will receive up to $300 million in funding. Signatories to the letter of intent include Kepler, Multibeam, and Extropic. GlobalFoundries' US stock price rose by more than 16% in pre-market trading.