Considering they are not even in the top 10 foundries by revenue in the world they strike me as a warm fuzzy play. The news cycle has made a bull case for them causing a price surge on a company that hadnt been profitable in 20 years even with the fact that they have had chips in absolutely every consumer electronics device.
Operation of a foundry is cost intensive. Its why Nvidia doesn't operate one and outsources production and why AMD sold off globalfoundries to the Arab Emirates and became fabless as well. GF is the third largest in the world by revenue and has better fundamentals than Intel but is now trading at a lower price than Intel.
Now you can't make money selling these things without manufacturing them so the cost of the foundry is worked into the prices so there is some discrepancy in pricing between the shares of fabless companies and the ones who are into the entire process.