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GlobalFoundries selected to operate two new semiconductor fabs in New York under $21 billion U.S.-Japan initiative
GFSGLOBALFOUNDRIES Inc.
GlobalFoundries has been selected as the technology provider and operator for two new semiconductor manufacturing facilities at its Malta, New York site. The project is backed by a landmark U.S.-Japan initiative providing up to $21 billion in funding, enabled by President Trump's trade agreement with Japan. An initial investment of approximately $10 billion will accelerate construction of a new 300mm fab expected to come online in 2029, adding about 900,000 wafers of annual capacity. A second fab would receive an additional $10 billion and add similar capacity. The initiative is expected to create approximately 27,000 construction jobs and over 1,000 high-skilled manufacturing positions in New York's Capital Region. Additionally, GlobalFoundries agreed with the U.S. Department of Commerce to reallocate $955 million from its existing CHIPS Act award toward silicon photonics and advanced packaging investments, while granting the Commerce Department approximately four percent equity in the company.