Mubadala capitalizes on US stock rally with USD 1.9 bn GlobalFoundries sale

US stock rally is good news for Mubadala: Abu Dhabi sovereign wealth fund Mubadala raised USD 1.9 bn from the sale of a block of shares in semiconductor manufacturer GlobalFoundries, according to a form44filing. The investor sold 22 mn shares, after marketing the shares at USD 86.3-86.8 apiece — more than double the price of a separate public offering in March through which Mubadala raised another USD 1.2 bn.

Mubadala’s capitalizing on a market rally — not staging an exit. The investor retains a 73% stake in the company, down from 77% at the end of 1Q 2026, and co-CEO of private equity at Mubadala said it remains “highly committed to GlobalFoundries’ strategic direction, Camilla Languille, co-chief executive officer of private equity at Mubadala” in a statement to Bloomberg.

Why now? A rally in equities on the back of hopes for a possible US-Iran ceasefire has buoyed investor sentiment in recent weeks — especially in major AI stocks which are already riding a big wave as investments in the sector (and demand) increase. In the US, the S&P 500 was up by almost 20% from a March low.

Not the only ones: The Abu Dhabi Investment Authority (Adia) is also riding that wave, with gas engine manufacturer Innio, in which Adia holds a significant minority stake alongside Advent Capital, poised to raise as much as USD 2 bn in a US IPO. Adia’s stake will see it secure more capital through the offering, which could see as many as 75 mn sold for between USD 24 and 27 apiece.

ICYMI- Mubadala has still been busy deploying funds elsewhere, including by acquiring a minority stake in US-based renewable player Power Factors and securing USD 1.5 bn for its biofuels refinery in Brazil. Meanwhile, Adia has recently launched a significant risk transfer fund with a London-based private credit player and made a minority investment in the USD 18.3 bn Hologic buyout.