Published 3 months ago

GlobalFoundries and Biden-Harris Administration Announce CHIPS and Science Act Funding for Essential Chip Manufacturing - GLOBALFOUNDRIES (NASDAQ:GFS)

Summary by Ground News

U.S. Department of Commerce announces $1.5 billion in planned direct funding for GlobalFoundries GFS (GF) The investment will enable GF to expand and create new manufacturing capacity and capabilities to securely produce more essential chips for automotive, IoT, aerospace, defense, and other vital markets. The proposed funding will support three GF projects.

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Benzinga

GlobalFoundries and Biden-Harris Administration Announce CHIPS and Science Act Funding for Essential Chip Manufacturing - GLOBALFOUNDRIES (NASDAQ:GFS)

$1.5 billion potential investment will support the expansion of GlobalFoundries New York facility, including construction of a new state-of-the art fab, and the modernization of its Vermont facility, adding secure capacity for essential chip manufacturing for automotive and other key markets Additional $600 million plus planned in New York State Green CHIPS and other State benefits over the 10-year term of the New York projects MALTA, N.Y. and …

3 months ago·New York, United States

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