The U.S. government has awarded GlobalFoundries $1.5 billion from the $52B CHIPS Act to enhance semiconductor production, focusing on foundational node chips essential for modern technology, including computer chips. This funding aims to bolster domestic supply chains and reduce dependency on foreign semiconductor production. The grant will support the construction of a new fabrication plant in Malta, New York, and the expansion of the existing Fab 8 facility, marking the building of a 2nd fab in NY. Additionally, GlobalFoundries will receive $1.6 billion in loans to further this initiative. This investment is part of a broader effort by the Biden administration to revitalize the U.S. semiconductor industry, with GlobalFoundries planning to build and expand facilities in New York and Vermont. This initiative is expected to create thousands of new jobs and support the U.S. auto industry and national security. Notably, more than 80% of GlobalFoundries is owned by the government of Abu Dhabi.
GlobalFoundries wins $3.1 billion in CHIPS Act subsidies for Upstate NY, Vermont expansion https://t.co/uuDcE5yIgj
Delays in finishing new, U.S. chip manufacturing factories are emerging, just as the Biden administration begins handing out money to stoke domestic production. https://t.co/zZdbPileGP
It’s worth noting the early Chips Act focus on so-called legacy chips—older models that are still essential to the economy The US is concerned about China’s growing legacy capacity & considering tariffs/other trade tools in addition to domestic subsidies: https://t.co/pAfxSEF7Sp https://t.co/aHv3yofBFV
Biden administration providing $1.5 billion to produce computer chips in New York, Vermont https://t.co/9966Q0Tlqq https://t.co/SoYfhSIRDx
Biden admin providing $1.5 billion to GlobalFoundries to make computer chips in Vermont and New York https://t.co/HmSKnpdFTY
$1.5 billion CHIPS act grant intention announcement for Global Foundries to expand investments in foundational node chips which are essential for every single modern technology https://t.co/UdGqWUGUod
"More than 80% of GlobalFoundries is owned by the government of Abu Dhabi, which assembled the business by acquiring parts of various companies and putting them together." ▪️ US to Award $1.5 Billion to GlobalFoundries in Chips Act Grant https://t.co/PNsx5CREPh
BIG: @GlobalFoundries secured a $1.5B CHIPS agreement to build a 2nd fab in NY’s Capital Region creating thousands of new good paying jobs supporting America’s auto industry and national security. It's NY's first & the nation’s largest award thus far from my CHIPS & Science Law.
The U.S. government is giving chip maker GlobalFoundries $1.5 billion in grants to build and expand facilities in New York and Vermont https://t.co/ko251mgKqZ https://t.co/ko251mgKqZ
The Biden administration is pledging $1.5 billion in grants to GlobalFoundries in the first major award to revitalize the domestic semiconductor industry.
Today, we're excited to celebrate the news of the proposed investments from the @CommerceGov & New York State. GF is proud to be the first semiconductor pure play foundry to receive a major award from the #USCHIPSAct. Read more about today's exciting news: https://t.co/c7yQFNv6g3 https://t.co/p86NX2vMYk
The US awards $1.5B to GlobalFoundries from the $52B CHIPS Act to build a new fab in Malta, New York, and to expand its Fab 8 plant, plus $1.6B in loans (@drewharwell / Washington Post) https://t.co/PoYJJQqyOZ 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/ikAyGYbe6n
US awards $1.5 bln to GlobalFoundries for domestic semiconductor production https://t.co/qxkF4J2rK9 https://t.co/dg3dYsLLuC
⚠️ US AWARDS $1.5 BILLION TO GLOBALFOUNDRIES FOR DOMESTIC SEMICONDUCTOR PRODUCTION (Reuters) The U.S. government is awarding $1.5 billion to GlobalFoundries to expand semiconductor production, the Biden administration said on Monday, in a bid to strengthen domestic supply… https://t.co/BrNp3O8Oaw