"GlobalFoundries Receives $1.5B for US Chip Plants Amid Expansion Plans"
The Biden administration has awarded $1.5 billion to GlobalFoundries, the largest domestic semiconductor manufacturer, to build a new semiconductor production facility in New York and expand operations in Vermont. This grant, from the $52 billion CHIPS Act, is aimed at bolstering domestic production of semiconductors to hedge against China's influence. The funding is expected to generate $12.5 billion in overall potential investment, create 1,500 manufacturing jobs, and 9,000 construction jobs over the next decade. Additionally, GlobalFoundries plans to use the funding to construct a new advanced chip factory, increase production at existing plants, and revitalize its plant in Vermont.
- Largest US semiconductor maker snags $1.5B from stalled Chips Act for plants in NY, Vermont New York Post
- Plans to Expand U.S. Chip Manufacturing Are Running Into Obstacles The New York Times
- US awards US$1.5 billion to GlobalFoundries for domestic semiconductor production South China Morning Post
- U.S. to give $1.5 billion for computer-chip plant, heating up global race The Washington Post
- Biden admin providing $1.5 billion to GlobalFoundries to make computer chips in New York and Vermont The Associated Press
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