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GlobalFoundries New York fabs get up to $21B; U.S. to reallocate $955M award and receive equity
GlobalFoundries will operate two new semiconductor fabs in Malta, New York, under a U.S.-Japan initiative providing up to $21 billion in funding from Japan. The project is expected to create about 27,000 construction and ecosystem jobs and more than 1,000 manufacturing jobs. The U.S. Department of Commerce will reallocate $955 million from GlobalFoundries’ existing CHIPS Act award toward advanced chip technologies and, under a separate agreement, receive equity in the company.
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