June 12, 2023 1:12 PM | 1 min read
Lockheed Martin Corp (NYSE:LMT) and GlobalFoundries Inc. (NASDAQ:GFS) disclosed a partnership to drive manufacturing and innovation of semiconductors and boost domestic supply chains for U.S. national security systems.
Both companies will build a chiplet ecosystem to produce chips rapidly and affordably, supporting the CHIPS and Science Act’s goals of enhancing critical semiconductor technologies.
The alliance is created to address critical necessities in semiconductor innovation and secure manufacturing across several advanced chip technologies, which include 3D heterogeneous integration, silicon photonics and gallium nitride on silicon.
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“Lockheed Martin is focused on delivering cutting-edge 21st Century Security capabilities that advance deterrence and keep our customers ahead of emerging threats. This begins with securely manufactured semiconductors. We look forward to working with GlobalFoundries to help increase access to domestically produced microelectronics – a true national security imperative,” said Jim Taiclet, chairman, president, and CEO of LMT.
“We are proud to collaborate with Lockheed Martin to address the growing need for a reliable supply of trusted, feature-rich semiconductors for mission-critical security systems,” stated Dr. Thomas Caulfield, president and CEO of GFS.
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Also Read: Lockheed Wins $751M Contract To Support Missile Program
Price Action: LMT shares are trading lower by 0.58% at $460.02, while GFS shares are trading higher by 4.30% at $61.99 on the last check Monday.
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