United States: GlobalFoundrues receives over $2 billion in finding from the government

Feb 21, 2024 | Posted by Abdul-Rahman Oladimeji

GlobalFoundries has been awarded $1.5 billion by the US government under the CHIPS and Science Act to subsidize the company’s future semiconductor production capabilities. The company will also be receiving another $600 million from the state of New York over the next decade under its Green Chips program which will be spent on expanding the company’s Malta campus in the state.

The chipmaker noted in a statement that the funding will be used to support three projects: expanding the company’s existing Malta fab by adding 'critical' technologies that are already being produced in its Singapore and German facilities; constructing a new fab on the Malta campus for the production of chips for automotive, aerospace, defense and AI; and modernizing the company’s Trusted 200mm facility in Essex Junction, Vermont.

“[These proposed investments] will... play an important role in making the US semiconductor ecosystem more globally competitive and resilient [cementing] the New York Capital Region as a global semiconductor hub,” said Dr. Thomas Caulfield, president and CEO of GlobalFoundries. “With new onshore capacity and technology on the horizon, as an industry we now need to turn our attention to increasing the demand for US-made chips, and to growing our talented US semiconductor workforce.”