The Biden administration has approved $1.5 billion in funding for GlobalFoundries to strengthen semiconductor production as part of the CHIPS Act. The company, which emerged from AMD in 2009 and has access to an additional $1.6 billion in loans from the CHIPS Program Office, will allocate the funds to three different projects.
Firstly, GlobalFoundries will construct a new fabrication facility in Malta, New York, with the goal of producing “high value technologies not currently available in the US,” according to a statement from the Department of Commerce. The company intends to use this facility to manufacture chips for various industries and applications, including automotive, aerospace, defense, and AI. Construction is set to commence in 2025.
Secondly, GlobalFoundries aims to expand its existing facility in Malta by integrating technology from its Singapore and Germany plants to increase semiconductor production for use in vehicles. This expansion, in conjunction with the new fab, will enable…
2024-02-19 12:27:54
Post from www.engadget.com