(PR) GlobalFoundries Breaks Ground on First New Semiconductor Fab Under Landmark U.S.-Japan Initiative

What happened

GlobalFoundries (Nasdaq: GFS) (GF) today joined U.S. 14 announcement that it was selected as the technology provider and operator for two new fabs at its Malta site under a U.S.-Japan initiative providing up to $21 billion in funding.

An initial investment of approximately $10 billion, supported with $570 million in incentives from New York State is accelerating construction of the first fab, which is expected to come online in 2029. and Japanese government officials, state and local leaders, customers, partners, employees and community members to break ground on the first new semiconductor manufacturing facility planned for its Malta, New York, site under a landmark U.S.-Japan initiative.

semiconductor capacity and support growing demand across automotive, industrial and connected infrastructure markets. Japan will provide the investment, while GF will contribute its differentiated technologies, manufacturing expertise and proven operational capabilities.