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Biden administration
- The Biden administration is granting $1.5 billion in funding to GlobalFoundries to bolster semiconductor production under the CHIPS Act. The company, which spun out from AMD in 2009 and also has access to $1.6 billion in loans from the CHIPS Program Office, will split the cash between three projects.
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Feb 19, 2024 · The award to GlobalFoundries will help the firm expand its existing facility in Malta, N.Y., enabling it to fulfill a contract with General Motors to ensure dedicated chip production for its cars.
The majority investor of GlobalFoundries, Abu Dhabi's Advanced Technology Investment Co., announced on September 6, 2009, that it has agreed to acquire Singapore-based Chartered Semiconductor Manufacturing Co. Ltd., for a total of $3.9 billion, with Chartered's operations being folded into GlobalFoundries.
Feb 19, 2024 · Today, the Biden-Harris Administration announced that the U.S. Department of Commerce and GlobalFoundries (GF) have signed a non-binding preliminary memorandum of terms (PMT) to provide approximately $1.5 billion in direct funding under the CHIPS and Science Act to strengthen U.S. domestic supply chain resilience, bolster U.S. competitiveness ...
Feb 19, 2024 · GlobalFoundries intends to use the funding to help pay for the construction of a new advanced chip factory in Malta, New York, increase production at its existing plant in Malta as part of a strategic agreement with General Motors, and revitalize its plant in Burlington, Vermont. READ MORE.
Feb 19, 2024 · MALTA, N.Y. and ESSEX JUNCTION, Vt., Feb. 19, 2024 (GLOBE NEWSWIRE) -- The U.S. Department of Commerce today announced $1.5 billion in planned direct funding for GlobalFoundries (Nasdaq: GFS)...
Feb 19, 2024 · GFS. WASHINGTON (AP) — The Biden administration said Monday that the government intends to provide $1.5 billion to the computer chip company GlobalFoundries to expand its domestic production in...
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Feb 19, 2024 · The U.S. government is awarding $1.5 billion to GlobalFoundries to subsidize semiconductor production, the first major award from a $39 billion fund approved by Congress in 2022 to bolster ...
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related to: Who funds GlobalFoundries?We Take a Personalized Approach To Offer You Investment Solutions Focused On Your Future. Connect With a Financial Advisor At a Merrill Lynch Wealth Management Location Near You.
