During its first-ever conference call with analysts as a public company, GlobalFoundries Tuesday evening told Wall Street it will continue to be face challenges in meeting companies’ demands for wafers to produce chips in 2022. “We are still dealing with shortages of what we can supply to our key customers in 2022 and figuring out how we could produce more, how do we do the right balance and allocations,” said CEO Thomas Caulfield. “So there’s nothing that we see in the industry for 2022 that would suggest the frothiness that you described is changing,” he added, in response to a stock analyst’s question whether surging demand for chips might cool off in future. GlobalFoundries, formerly the chip arm of Advanced Micro Devices, was spun out in 2009 to Abu Dhabi’s sovereign wealth fund, Mubadala. It was taken public October 28th in an IPO lead by Morgan Stanley, Citigroup, BankofAmerica, and JP Morgan Chase that netted GlobalFoundries $1.5 billion in proceeds, and netted Mubadala $1 billion. Mubadala still owns 89% of the shares. GlobalFoundries manufactures chips for a fee for AMD, and for many of the other top chip designers in the world including Qualcomm, NXP Semiconductors, Qorvo, Skyworks Solutions, and… Read full this story
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