GlobalFoundries Chosen to Run Two New York Chip Fabs Under U.S.-Japan Initiative

GlobalFoundries said on October 14 that it had been selected to provide technology and operate two proposed semiconductor factories in Malta, New York, under a U.S.-Japan initiative providing up to $21 billion. Japan would supply investment, while GlobalFoundries would supply technology and operating expertise. The company expects the first factory to come online in 2029, producing 900,000 wafers annually, with a second factory adding roughly the same capacity. GlobalFoundries projects approximately 27,000 construction and ecosystem jobs and more than 1,000 manufacturing jobs, with the first groundbreaking expected later this year.