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GlobalFoundries secures $1.5 billion in CHIPS Act funding for US expansion
GlobalFoundries has secured $1.5 billion in CHIPS Act funding to bolster domestic semiconductor supply chains. Among other things, the company aims to produce "high value technologies not currently available in the US" at a new facility.
Secondly, GlobalFoundries plans to expand its existing facility in Malta by incorporating tech from its Singapore and Germany plants with the aim of making more semiconductors for use in cars and trucks. The aim is to build the first US plant capable of high-volume manufacturing of next-generation gallium nitride on silicon semiconductors for electric vehicles, smartphones, the power grid and other key technologies. Last year, the company reached a direct supply agreement with GM to provide the automaker with US-built processors and help it avoid the kinds of chip shortages that caused a significant slowdown in car manufacturing in the midst of the COVID-19 pandemic.
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