GLOBALFOUNDRIES Inc. Is Selected To Operate Two New Semiconductor Fabs In New York Under Landmark U.S.-Japan Initiative

GlobalFoundries will operate two new semiconductor fabs in New York under a U.S.-Japan initiative with up to $21B in funding. The project aims to expand U.S. manufacturing capacity and create jobs. Initial investment of $10B will start construction in 2026, with a second fab potentially adding another $10B. The U.S. Department of Commerce will gain a 4% equity stake in GlobalFoundries.

GlobalFoundries plans to build a second chip factory in Malta, NY, with $21B investment, including $10B for the new fab. The U.S. Commerce Department will increase its stake in the company. The project, supported by CHIPS Act funding, aims to add 900,000 wafers/year and 1,000 jobs by 2029.

GlobalFoundries (GFS) rose 5% after being chosen to operate two new semiconductor fabs in New York as part of a U.S.-Japan initiative, potentially worth $21B. The company will expand its Malta, N.Y., site under the agreement.

GlobalFoundries (GFS) will operate two new semiconductor factories in New York with $21B in U.S.-Japan funding. The U.S. will take a 4% stake in the company. GFS stock rose on the news. The deal was enabled by a U.S.-Japan trade agreement.

GlobalFoundries will operate two chip plants in New York with a $21bn investment from Japan. The US government will take a 7% stake. Shares rose 4.9% to $48.99. The deal aims to boost US semiconductor manufacturing capacity by 2029.

GlobalFoundries will operate two 300mm fabs in New York, funded by Japan, with around $20 billion allocated. The fabs, expected online by 2029, will add 900,000 wafers/year each. The project, backed by a US-Japan trade agreement, aims to boost US semiconductor capacity and create jobs. GlobalFoundries will also reallocate $955 million from its CHIPS Act award for other US sites, with the Commerce Department gaining a 4% equity stake.