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GlobalFoundries receives funding for essential chip manufacturing

GlobalFoundries (GF) has announced that it is to receive $1.5bn in direct funding as part of the US CHIPS and Science Act enabling it to expand and create new manufacturing capacity and capabilities.

www.newelectronics.co.uk/, Feb. 19, 2024 – 

According to the company this investment will be used to securely produce more essential chips for automotive, IoT, aerospace, defence, and other vital markets.

GF is the only US-based pure play foundry with a global manufacturing footprint including facilities in the US, Europe, and Singapore and is the first pure play foundry to receive a major award (over $1.5 billion) from the CHIPS and Science Act, designed to strengthen American semiconductor manufacturing, supply chains and national security.

The proposed funding will support three GF projects:

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