GlobalFoundries To Operate Two New Chip Fabs Under U.S.-Japan Alliance

GlobalFoundries (GFS) plans to add up to 1.8 million wafers of annual capacity with two new fabs in New York. The U.S. Department of Commerce will receive a 4% equity stake in the company under a separate agreement.

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 Inc. will operate two new semiconductor fabs in New York under a U.S.-Japan initiative with up to $21 billion in funding. The first fab, costing $10 billion, is expected to launch in 2029, adding 900,000 300mm wafers of annual capacity. The project will create 27,000 jobs. GF will also reallocate $955 million from its CHIPS Act award for other tech investments.

GlobalFoundries plans to build two chip plants in New York with $20B in funding, including $10B from Japan and CHIPS Act money. The U.S. Commerce Department will take a 4% stake. Shares rose 4.8% to $48.93, up 41% YTD. Fabs aim to boost U.S. manufacturing capacity, with first fab expected in 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.