GLOBALFOUNDRIES Inc. (GFS) GlobalFoundries Inc. Presents at Morgan Stanley Technology,

Joseph Moore
Morgan Stanley, Research Division

I guess maybe we could just start. You described the company being at an interesting inflection point on the last earnings call. What did you mean by that? What has you excited about the direction that the business is headed?

Timothy Breen
CEO & Director

Yes. Thank you, Joe. Thanks for being here. No, it’s a super interesting moment to be GlobalFoundries. And I think it’s because we see 3 trends that perhaps we’ve tracked for some time, but now moving to different pace of momentum. And the 3 that I see, 2 are demand and 1 is on the supply side. On the demand side, clearly, the rollout of the data center, we’re seeing only acceleration in the requirements, the scale, the deployments globally, but also some of the bottlenecks those data center deployments create, whether that’s power or networking areas that we’ve been investing in our portfolio for some time and now seeing that pull-through in the business and the pull-through for the road maps that we have for the future.

Even more excited about the longer-term trends of AI entering the physical world, right? When AI is around us in the cars we ride in, no longer driving because they’ll drive themselves, the home environment, the workplace, the