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US awards USD 1.5 bn to GlobalFoundries for semiconductor production
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GlobalFoundries, the world's third-largest contract chipmaker, will build a new
semiconductor production facility in Malta, New York, and expand existing operations
and in Burlington, Vermont, according to a preliminary agreement with the Commerc
Department.
auto.economictimes.indiatimes.com/?utm_source=header_logo&utm_medium=newsDetail, Feb. 20, 2024 –
The U.S. government is awarding USD 1.5 billion to GlobalFoundries to subsidize semiconductor production, the first major award from a USD 39 billion fund approved by Congress in 2022 to bolster domestic chip production. GlobalFoundries, the world's third largest contract chipmaker, will build a new semiconductor production facility in Malta, New York, and expand existing operations there and in Burlington, Vermont, according to a preliminary agreement with the Commerce Department. The department in January announced a USD 162 million planned award to Microchip Technology and USD 35 million to a BAE Systems facility in New Hampshire in December.
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