GlobalFoundries is planning to expand its Malta facility in upstate New York with a $1 billion investment to increase production by over 150,000 wafers a year. A new fab will also go into construction, adding thousands of jobs. GlobalFoundries currently employs about 3,000 people at the plant and roughly 7,000 across the nation. Once funding for its Fab 8 facility in Saratoga is complete, it will seek funding for the new plant via public-private partnerships including customers, federal, and state investments. Intel was rumored to be buying GlobalFoundries, but CEO Tom Caulfield says no such talks have happened. It is planning an IPO next year.
Our industry is expected to grow more in the next decade than it did in the past 50 years and GF is stepping up to do its part as we work together to address the growing demand for technology innovation for the betterment of humanity. We are honored to be joined by government and automotive leaders, national security experts, and our valued customers to continue the critical discussions needed to create a reliable supply of American-made chips to support the U.S. economy and national security. – GlobalFoundries CEO Tom Caulfield
Sources: GlobalFoundries, ExtremeTech (via TechPowerUp)