GlobalFoundries to receive $1.5 billion from the US CHIPS and Science Act

This strategic investment aims to bolster GFs manufacturing prowess, allowing for an increase in production capabilities to securely meet the burgeoning demand for critical semiconductors across essential sectors like automotive, IoT, aerospace, and defence. The investment is earmarked for three pivotal GF projects: • The expansion of GFs Malta, NY, fabrication plant integrates cutting-edge technologies from its facilities in Singapore and Germany, particularly to support the US automotive industrys shift towards electronic systems. These advancements will serve critical applications across various sectors, including electric vehicles and telecommunications GF plans a total investment exceeding $12 billion over the next decade at its US sites, supported by a mix of public-private partnerships and contributions from federal and state governments, alongside strategic customer, and partner ecosystems. In conjunction with these projects, Governor Hochul announced New York States commitment of $575 million to the Green CHIPS initiative, alongside additional funding for workforce development and infrastructure enhancements to support GlobalFoundries expansion efforts. This will triple production capacity of GlobalFoundries’ already massive campus in Saratoga County, spur billions in public-private investment, and help bring thousands of new good-paying manufacturing and union construction jobs to the Capital Region,” said Senator Schumer.