Globalfoundries is trading at $49.80 (+5.80%) as chip stocks rally sharply amid a broad semiconductor rebound and a risk-on rotation back into tech.
- The sector-wide move is highlighted by a 5.59% gain in the SOXX ETF, with major chip names trending higher alongside the broader market.
- Market sentiment was bolstered by strong Microsoft earnings and cooler-than-expected inflation data, fueling optimism for the semiconductor industry.