GlobalFoundries receives $1.5 billion from CHIPS and Science Act to build new semiconductor facility and upgrade 2 existing sites

Feb. 20, 2024
The new 300 mm fabrication facility will be located in Malta, New York and is engineered to produce technologies not currently available in the U.S.

The U.S. Department of Commerce has announced plans to provide $1.5 billion in direct funding to GlobalFoundries (GF). The two organizations signed a non-binding preliminary memorandum of terms (PMT) with the hopes of strengthening the supply of domestic legacy chips. The funding, made available by the CHIPS and Science Act, will be used to open a new facility and improve existing manufacturing operations in New York and Vermont.

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