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Applied Materials (NASDAQ:AMAT) announced on Tuesday that it will partner with GlobalFoundries (NASDAQ:GFS) to build a state-of-the-art waveguide fabrication facility at GlobalFoundries’ Singapore site, to accelerate the photonics revolution driven by artificial intelligence.
The collaboration represents a milestone in positioning photonics as a cornerstone for next-generation AI applications, such as augmented reality (AR) and human-centered digital experiences.
Applied Materials will design and develop advanced waveguide components, while GlobalFoundries will serve as its high-volume manufacturing partner in Singapore.
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The collaboration builds on the emerging photonics ecosystem in Singapore, encompassing materials, sensors, integration, assembly, test, and applications.
Dr. Paul Meissner, Vice President and General Manager of Applied Materials’ Photonics Platforms Business, and GlobalFoundries’ Yew Kong Tan, Senior Vice President and General Manager for APAC Manufacturing, emphasized that the collaboration merges Applied Materials’ leadership in materials science with GlobalFoundries’ manufacturing scale to accelerate the adoption of next-generation devices.
Applied Materials stock gained 24% year-to-date, backed by demand for its wafer fabrication equipment, driven by the AI and high-performance computing (HPC) frenzy.
GlobalFoundries stock tanked 23% year-to-date due to its dismal third-quarter outlook, with weaker-than-expected revenue and earnings forecasts driven by a decline in the consumer electronics sector.
Price Actions: AMAT stock was trading higher by 0.99% to $202.85 premarket at last check Wednesday. GFS was up 0.30%.
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Photo by michelmond via Shutterstock
