GlobalFoundries to build two chip plants in New York
Summarised from 2 outlets · Updated 14 Oct, 21:03 · Archive
GlobalFoundries will build two semiconductor factories in Malta, New York, financed by up to $21 billion from Japan.
GlobalFoundries announced Wednesday it will build two semiconductor factories in Malta, New York, financed by Japanese investment of up to $21 billion. The company attributed the deal to a Trump administration trade and investment agreement with Japan. GlobalFoundries said the initiative will accelerate semiconductor manufacturing in the United States and strengthen critical supply chains.
The company previously received federal funding under a Biden administration programme to expand chip production. Following the Japanese investment, that federal funding will be redirected to other semiconductor manufacturing initiatives, according to GlobalFoundries spokesperson Kenneth Craig. President Donald Trump stated on social media that the U.S. government will receive shares in GlobalFoundries, extending the administration's policy of taking ownership stakes in private companies, similar to its arrangement with Intel.
GlobalFoundries allocated roughly $10 billion to accelerate construction of a chip factory expected to open in 2029, with the remaining $10 billion funding the second plant. The expansion reflects surging demand for semiconductors driven by artificial intelligence and data centre computing needs. Taiwan-based chipmaker TSMC has also announced plans to spend another $100 billion expanding its manufacturing capacity in the United States.
How it is being reported
- GlobalFoundries to open 2 new chip plants in New York with $21 billion in financing from JapanSemiconductor contract manufacturing and design company GlobalFoundries Inc. says it plans to open two chip-making factories in Malta, New York, financed by an investment of up to $21 billion from Japan.Clickorlando · 14 Oct, 20:39
- GlobalFoundries to open 2 new chip plants in New York with $21 billion in financing from JapanSemiconductor contract manufacturing and design company GlobalFoundries Inc. says it plans to open two chip-making factories in Malta, New York, financed by an investment of up to $21 billion from Japan.News4Jax · 14 Oct, 20:39
In this story: GlobalFoundries · Japan · Malta, New York · Trump · Intel · TSMC · Taiwan
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