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.
