UAE-backed GlobalFoundries to run two chip plants under $21bn US-Japan deal

GlobalFoundries will receive up to $21B in funding from a U.S.-Japan initiative to build two semiconductor fabs in Malta, NY. The investment includes $10B for a new fab expected to start operations in 2029, adding 900,000 300mm wafers of annual capacity. The project is expected to create 27,000 jobs and the U.S. Department of Commerce will receive 4% equity in the company.

GlobalFoundries (NASDAQ:GFS) stock rose Wednesday after announcing plans to operate two new semiconductor fabs in New York with up to $21 billion in U.S.-Japan funding. The initiative, with Japan providing funding and GlobalFoundries offering technology, aims to add significant U.S. production capacity. The company expects to break ground on the first fab later this year, with operations starting in 2029. The project could create around 27,000 jobs.

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 (GF) will build and operate two new chip fabs in New York as part of a $21bn US-Japan deal. Japan will invest $10bn initially for the first fab, with another $10bn for a second fab. GF expects to break ground this year, with production starting in 2029. The project will create 27,000 jobs. GF will also reallocate $995m from its CHIPS Act award for silicon photonics and advanced packaging.

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.