The US plans to award $1.5bn to GlobalFoundries, the world's third-largest contract chipmaker, to boost domestic chip production.
The US plans to award $1.5bn in direct funding to GlobalFoundries, the world's third-largest contract chipmaker, to boost domestic chip production, according to the Commerce Department. The funding aims to strengthen the US domestic supply chain and increase competitiveness in current-generation and mature-node semiconductor production. This decision supports GlobalFoundries' plans to expand its operations in Malta and create thousands of jobs in Vermont.
February 19, 2024
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