GlobalFoundries Secures Major Funding for U.S. Expansion

GlobalFoundries Inc (GFS) has released an update.

GlobalFoundries has been granted up to $1.5 billion from the CHIPS and Science Act, alongside $550 million from New York State, to bolster its chip manufacturing capacity in New York and modernize its Vermont facility. This extensive investment, totaling more than $13 billion, aims to expand production for sectors such as automotive, IoT, and aerospace, while creating thousands of jobs in the U.S. semiconductor industry. The initiatives are poised to triple the capacity of GF’s Malta campus over the next decade, ensuring a reliable supply of American-made chips.

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