GlobalFoundries (NASDAQ: GFS) surged in premarket trading after signing a non-binding Letter of Intent (LOI) for a $300 million CHIPS for America R&D award to accelerate next-generation silicon photonics and advanced semiconductor technologies for AI infrastructure. 🔑 Key Highlights 💰 $300M CHIPS R&D Award: GlobalFoundries signed an LOI for up to $300 million in funding under the CHIPS for America program to advance next-generation semiconductor technologies. 🤖 Focus on AI Infrastructure: The program will accelerate silicon photonics, optical materials, wafer technologies, advanced packaging, and co-packaged optics, enabling faster and more energy-efficient AI data centers. 🤝 Industry Collaboration: The initiative is supported by leading technology companies including AMD, NVIDIA, Microsoft, Meta, and Broadcom, highlighting broad industry backing for next-generation AI infrastructure. 🏭 U.S. Manufacturing: Research and development will leverage GlobalFoundries' facilities in New York and Vermont, strengthening domestic semiconductor innovation and manufacturing. 🇺🇸 CHIPS Program: As part of the proposed award, the U.S. Department of Commerce is expected to receive approximately 1% equity in GlobalFoundries.