GlobalFoundries ($GFS) announced October 14 that it has been selected to operate two new semiconductor manufacturing facilities in Malta, New York, under a U.S.-Japan initiative providing up to $21 billion in funding. Japan will provide the investment under President Donald Trump's trade agreement, while GlobalFoundries will contribute manufacturing technology and operational expertise.
- An initial $10 billion investment will fund a 300mm semiconductor fab expected to begin operations in 2029.
- A second facility would receive approximately $10 billion in additional funding.
- Each fab is expected to add approximately 900,000 wafers in annual manufacturing capacity when fully operational.
- The project is expected to create approximately 27,000 construction and ecosystem jobs and more than 1,000 manufacturing jobs.
- The Commerce Department will receive approximately 4% equity in GlobalFoundries.
- The company also agreed to reallocate $955 million in existing CHIPS Act funding toward silicon photonics, silicon-germanium, and advanced packaging.
- Construction on the first facility is expected to begin later in 2026.
Relevant Companies
- GlobalFoundries ($GFS) - Selected to operate both facilities and expand domestic semiconductor manufacturing.
- Apple ($AAPL) - Existing manufacturing partner that expects to benefit from expanded U.S. chip production.
- Cirrus Logic ($CRUS) - Existing customer gaining access to additional domestic manufacturing capacity.
Editor’s Note: This is a developing story. This article may be updated as more details become available.
