Canada has entered a "technical recession" for the first time since 2020

12:57 PM EDT, 10/08/2026 (MT Newswires) -- GlobalFoundries (GFS) struck a multi-year $2 billion deal to supply silicon interposers to Taiwan Semiconductor Manufacturing (TSM) amid growing demand for artificial intelligence. GlobalFoundries will add fabrication capacity at its Malta, New York, facility, and establish the first US-based source of silicon interposers, which enhance the performance and feasibility of semiconductor packaging. Production is expected to begin ramping in the first half of 2028, GlobalFoundries said Thursday. "Advanced packaging is becoming increasingly critical to delivering the performance, power efficiency and scale required for next-generation AI systems," Ed Kaste, senior vice president of CMOS Business at GlobalFoundries, said. The agreement has an initial term of five years and covers a framework for potential capacity expansion, according to GlobalFoundries. GlobalFoundries shares were up 3.2% in Thursday trade, while TSMC's American depositary receipts fell 2.3%. Earlier in October, GlobalFoundries entered into a strategic partnership with Xanadu Quantum Technologies (XNDU) to accelerate utility-scale quantum computing. Last month, GlobalFoundries partnered with SMART Photonics to launch an open-access foundry service for integrated silicon and indium phosphide photonics products. TSMC on Thursday reported revenue of 511.86 billion New Taiwan dollars ($16.02 billion) in September, up 55% from a year earlier. The company's sales declined 0.6% sequentially. In September, Qualcomm (QCOM) agreed to provide custom-built chips and high-speed optical connectivity for Amazon's (AMZN) cloud computing division as part of a collaboration. Price: 50.39, Change: +2.32, Percent Change: +4.83