Mubadala’s US portfolio hit by GlobalFoundries slump
- $2.7bn loss on GlobalFoundries
- Stake in Bitcoin ETF
- 18 new purchases in Q1
Abu Dhabi sovereign wealth fund Mubadala Investment Co suffered a paper loss of $2.7 billion on its majority stake in US semiconductor maker GlobalFoundries in the first quarter, US regulatory filings show.
GlobalFoundries’ stock price has fallen by about half from its March 2022 peak, extending its decline this year.
This lowered the value of Mubadala’s 81.5 percent stake in the New York-state based tech company to $16.6 billion as of March 31, down 14 percent versus December 31.
GlobalFoundaries is the world’s third-largest semiconductor foundry by revenue, producing integrated circuits for markets including automotive,…
