Mubadala-backed GlobalFoundries announced a $16 billion investment into its New York and Vermont semiconductor manufacturing plants. Formed in 2009 through Mubadala’s investment in AMD, GlobalFoundries has grown to be the third-largest advanced semiconductor manufacturer in the world. The company supplies chips to leading US companies, including Apple and General Motors.
Why This Matters
The $16 billion expansion will expand semiconductor manufacturing and advanced packaging in the US, strengthening advanced tech supply chains. The expansion will also support jobs across tech and advanced manufacturing. GlobalFoundries currently supports over 20,000 direct and indirect jobs in New York and Vermont.