GlobalFoundries (GFS.US) reaches a $2 billion silicon interposer supply agreement with TSMC (TSM.US)

Zhitong Finance APP has learned that GlobalFoundries (GFS.US) announced on Thursday that it has reached a five-year, $2 billion agreement to provide TSMC (TSM.US) with U.S.-based capacity. Following the news, GlobalFoundries' stock rose as much as 7% during intraday trading. Under the agreement announced on Thursday, GlobalFoundries will help supply components known as "silicon interposers." The U.S. chipmaker will rely on its fab in Malta, New York, for production, and said it has the option to expand capacity if customer demand grows.