Key Highlights

• Q3 2026 Revenue came in at $1.899 billion with non-IFRS gross Margin reaching a record 31.4%.

• GF was selected as technology provider and operator for two new fabs at its Malta, New York site under a US-Japan initiative providing up to $21 billion in funding.

• The company entered into a $2 billion multi-year agreement with TSMC for US-based silicon interposer manufacturing.

• Non-IFRS adjusted EBITDA reached $647 million, with ending cash and marketable securities of $3.2 billion.

GlobalFoundries Inc.(NASDAQ:GFS), one of the world's largest semiconductor foundries, delivered third-quarter 2026 results that showed revenue growth driven by high-value AI applications, alongside a series of major Partnership and government-backed Investment announcements.

Revenue and Financial Performance

Revenue for the three months ended September 30, 2026, was $1.899 billion. IFRS gross margin was 30.1%, while non-IFRS gross margin reached a record 31.4%, reflecting a richer product mix weighted toward high-value applications in AI and communications infrastructure. Non-IFRS Operating Margin was 17.9%, and non-IFRS adjusted EBITDA totalled $647 million.

On an IFRS basis, GF recorded a net loss of $270 million, or $0.49 per diluted share. The loss was primarily driven by a $441 million non-cash charge related to the issuance of 9.9 million ordinary shares to the US government in September 2026, recorded in non-operating expense. On a non-IFRS basis, Net Income was $298 million, or $0.53 per diluted share.

Net cash provided by Operating Activities was $341 million, with non-IFRS adjusted free Cash Flow of $136 million. The company ended the quarter with $3.2 billion in cash, cash equivalents, and marketable securities.

Landmark Partnerships and Government Investment

The quarter and subsequent weeks brought a series of notable strategic developments. In October 2026, GF was selected as the technology provider and operator for two new semiconductor fabs at its Malta, New York site under a US-Japan initiative that will provide up to $21 billion in funding. An initial investment of approximately $10 billion is set to accelerate construction of a 300mm fab, with capacity expected to come online in 2029.

Separately, GF and the US government agreed to amend the company's existing CHIPS and Science Act award, reallocating $955 million of incentives to support investments in advanced Manufacturing at facilities in Malta, New York, and Burlington, Vermont. The funding targets silicon photonics, silicon germanium, and advanced packaging, including what is described as the first US-based source of silicon interposers.

GF also entered a multi-year, $2 billion manufacturing agreement with TSMC to produce silicon interposers at its Malta Facility for TSMC's CoWoS advanced packaging ecosystem. Volume production is expected to begin ramping in the first half of 2028.

Additional agreements included an expanded multi-year deal with Marvell for high-performance silicon germanium technology in Burlington, and a long-term manufacturing agreement with another partner for the company's advanced packaging solutions.

Market Momentum Across Segments

Management noted record year-over-year revenue growth in communications infrastructure and data centre markets, alongside growth in automotive and home and industrial IoT segments. These gains were attributed to the company's differentiated technologies and diversified customer base.

The Bigger Picture

GlobalFoundries exits Q3 in an increasingly central position within the US semiconductor manufacturing ecosystem. The combination of record margins, multi-billion-dollar government backing, and strategic agreements with TSMC and other partners reflects a company positioned at the intersection of AI Demand and geopolitical Supply chain priorities.