GlobalFoundries' financial performance in 2024 will decline, with automotive business being the only bright spot

GlobalFoundries' financial performance in 2024 showed a downward trend, with total revenue of US$6.75 billion, a year-on-year decrease of 9%. Despite the overall poor performance, the automotive business became the only bright spot, with full-year revenue reaching US$1.206 billion, a year-on-year increase of 15%. This is mainly due to the strong demand for high-performance, low-power chips in the electric vehicle market.