GlobalFoundries printed. I think some people totally missed that a mature-node foundry is guiding above 30% gross margin while the industry still talks about “commodity capacity.” Q2: - $1.786B revenue - 29.9% gross margin, above guide Q3: - $1.885B ± $25M - 30.5% ± 100bps gross margin That is the tell we wanted. This is not a broad foundry recovery. It is a scarcity story inside specific corridors: Vermont SiGe and silicon photonics capacity feeding optical connectivity. $GFS
View on X ↗