GlobalFoundries Plans Two New Chip Plants in New York with $21 Billion Japanese Financing
· Business · The Independent, Reuters, Wall Street Journal
GlobalFoundries Inc. announced plans to open two semiconductor manufacturing plants in Malta, New York, backed by up to $21 billion in financing from Japan. The agreement stems from trade and investment pacts negotiated by the Trump administration with the Japanese government. President Donald Trump stated that the U.S. government will secure ownership shares in GlobalFoundries, mirroring a similar policy applied to Intel Corp. Approximately $10 billion will fund a facility scheduled to open in 2029, with another $10 billion directed toward a second plant. The expansion aims to strengthen domestic supply chains amid surging global demand for artificial intelligence and data center computing power.
Why it matters
The massive investment reshapes domestic semiconductor manufacturing and deepens government equity stakes in private tech companies.
Read the original report — The Independent
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.