GlobalFoundries to operate two new semiconductor plants in New York

GlobalFoundries (GF) has been selected to operate two new semiconductor fabrication plants in Malta, New York, as part of a major US-Japan investment initiative. Under this agreement, Japan will provide up to $21 billion in funding, while GF will provide manufacturing technology and operational expertise to strengthen the domestic supply chain for automotive, industrial, and communication sectors.

The first facility, requiring an investment of approximately $10 billion, is scheduled to begin construction in 2026 and start operations in 2029. It will utilize 300mm wafer technology with an expected annual capacity of 900,000 wafers. A second facility of similar scale is being considered, which could potentially add another 900,000 wafers annually.

The project is expected to create approximately 27,000 jobs in construction and related industries, along with over 1,000 highly skilled semiconductor manufacturing roles. Additionally, the US Department of Commerce has agreed to reallocate $955 million in existing CHIPS Act funding to accelerate investments in silicon photonics and advanced packaging at GF's New York and Vermont sites. The US government will also acquire approximately 4% of GF's equity to participate in the company's growth.