GlobalFoundries to operate two new New York fabs under U.S.-Japan initiative with up to $21 billion funding

• GlobalFoundries was picked to operate two new fabs at its Malta, New York site under a U.S.-Japan initiative funding up to $21 billion.
• About $10 billion will accelerate construction of a new 300mm fab expected to come online in 2029; a second fab would receive about $10 billion.
• First fab targets about 900,000 300mm wafers of annual U.S. capacity when fully operational; the second fab would add a similar amount.
• GF will reallocate $955 million from its existing CHIPS award to speed investments in silicon photonics, SiGe, advanced packaging in New York, Vermont.
• The U.S. Department of Commerce will receive equity in GF of about 4% under a separate agreement tied to the expanded investment plan.

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