The investment includes a new New York facility, expansion and modernisation of an existing one, and Vermont operations upgrades.

The previously leaked decision to award GlobalFoundries $1.5 billion in subsidies to manufacture chips in the US is now official. The company has announced an agreement

GlobalFoundries and the Department of Commerce officially finalized its CHIPS award of up to $1.5 billion in direct funding through the bipartisan CHIPS & Science Law spearheaded

MALTA – GlobalFoundries and the U.S. Commerce Department finalized the terms for a $1.5 billion federal grant to support a $13 billion expansion of its New York and Vermont manufacturing operations, including building a second factory at its Fab 8 campus in Malta.

GlobalFoundrieswill receive up to $1.5 billion in federal funding through the CHIPS and Science Act to upgrade existing plants and build a second factory at its Saratoga County campus, the Biden administration announced Wednesday.

GlobalFoundries will receive $1.5 billion through the CHIPS and Science Act to expand its semiconductor manufacturing in Malta, New York. The investment will fund a new fabrication facility and enhancements to the existing site, creating an estimated 9,000 construction jobs and 1,000 permanent manufacturing positions.

Vermont Business Magazine GlobalFoundries (Nasdaq: GFS) (GF) and the U.S. Department of Commerce have announced an award of up to $1.5 billion in direct funding to GF through the CHIPS and Science Act.

The Biden administration has finalized up to $1.5B in direct funding for GlobalFoundries (NASDAQ:GFS) as part of the CHIPS and Science Act. The award follows the previously signed preliminary memorandum of terms announced in February 2024,