Why GlobalFoundries Rallied 11.4% This Week

Shares of U.S. specialty chip manufacturer GlobalFoundries (GFS -1.68%) rallied 11.4% this week, according to data from S&P Global Market Intelligence.The U.S. foundry, which produces chips on specialty lagging-edge nodes, had an earnings report that encouraged analysts. In addition, Vice President JD Vance made a speech touting domestic U.S. chip manufacturing, which lit a fire under GlobalFoundries and other U.S.-based chipmakers.GlobalFoundries beats expectations as it aims for a recoveryIn the fourth qu ...