GlobalFoundries gained 6.3% in early trading against the broader market, with the U.S. government set to hold around a 4% stake, and the Japanese government has pledged $21 billion in investment.

According to market data from BIT (bit.com), U.S. semiconductor stock GlobalFoundries (GFS) rose 6.3% against the trend at the start of trading. The catalyst: GlobalFoundries plans to build two new chip factories in New York State, with the Japanese government providing up to $210 billion in financial support. As part of the agreement, the U.S. government will also acquire an approximately 4% stake in GlobalFoundries.

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