The contract chip manufacturer says one of its shareholders is selling $950 million of its ordinary shares.
(Bloomberg) -- A unit of Mubadala Investment Co. is seeking to raise $950 million in a sale of GlobalFoundries Inc. shares, two years after the chipmaker went public.Most Read from BloombergNvidia Delivers on AI Hopes, Igniting $140 Billion Stock RallyThese Flight Routes Suffer the World’s Worst TurbulenceCiti Trader Got 711 Warning Messages Before Sparking Flash CrashHarvard Defies Faculty Vote to Block 13 Students From GraduatingUS Justice Department to Seek Breakup of Live Nation-Ticketmaster
While the innovation ecosystem has rightfully commanded much of the attention on Wall Street, investors may want to consider profitable tech stocks. As circumstances become more challenging, it’s the substantive enterprises that may last for the long haul. That’s not to take anything away from the growth-oriented enterprises. Certainly, the often-smaller companies that eschew profits for expanding their market can potentially see enormous returns. At the same time, they carry tremendous risks. W