Get the latest tech news
GlobalFoundries to Receive $1.5 Billion In Funding from U.S. CHIPS Act
y Anton Shilov on February 20, 2024 8:00 AM EST - Posted in - Semiconductors - GlobalFoundries The United States Department of Commerce and GlobalFoundires announced on Monday that the US will be awarding GlobalFoundries with $1.5 billion in funding under the CHIPS and Science Act. The latest domestic chip fab to receive money under the act, GlobalFoundries's funding will be spent to upgrade company's New York and Vermont fabs as well as build a brand-new fab module.
First up, the company plans to expand its Fab 8 in Malta, NY, and enable it to build chips for automotive industry on technologies already adopted by its sites in Germany and Singapore. In general, GlobalFoundries's investment plan exceeds $12 billion across its two U.S. sites over the next decade, supported by public-private partnerships with federal and state governments and strategic ecosystem partners. These initiatives also underscore the contract chipmaker's commitment to sustainable operations and workforce development, aligning with the company's strategic goals to strengthen the semiconductor talent pipeline and support the growing demand for U.S.-made chips.
Or read this on AnandTech
