USA Rare Earth Inc. (NASDAQ: USAR) appointed Dr. Thomas Caulfield to its board of directors, effective March 9, the company announced.

Caulfield currently serves as executive chairman of GlobalFoundries (NASDAQ: GFS) and previously held the role of president and chief executive officer from 2018 to 2025. During his tenure as CEO, he led the semiconductor manufacturer through its 2021 initial public offering.

The appointment follows USA Rare Earth's recent business developments, including a letter of intent with the U.S. government for $1.6 billion in funding through the CHIPS Act and other federal sources, alongside $1.5 billion in private investment raised in January. The company also announced a definitive agreement expected to establish it as the sole operator of the Round Top Project in North America.

"Tom is a proven leader who understands how to scale complex, industrial platforms and deliver strategic capacity at the intersection of technology, manufacturing, and national priorities," said Michael Blitzer, chairman of USA Rare Earth's board.

Caulfield stated he joined as a recent shareholder and expressed support for the company's mission to address rare earth element supply gaps for essential industries.

The new board member replaces Tready A. Smith, who completed five years of service on the board. The board maintains eight members following the transition.

Caulfield holds degrees in physics from St. Lawrence University and materials science and engineering from Columbia University, including a doctorate. He previously held leadership positions at Soraa, Ausra, Novellus Systems and IBM, and serves on the board of Sandisk Corp.

USA Rare Earth develops rare earth and permanent magnet manufacturing across the United States, United Kingdom and Europe.