GlobalFoundries to Expand Semiconductor Manufacturing with Up to $21 Billion in Funding for New York Fabs

GlobalFoundries has been selected to operate two new semiconductor fabrication facilities at its Malta, New York, site under a U.S.-Japan initiative, with funding potentially reaching $21 billion. The first fab is expected to begin construction in 2026 and become operational in 2029, adding approximately 900,000 300mm wafers of annual manufacturing capacity. Additionally, GlobalFoundries will reallocate $955 million from its existing CHIPS and Science Act award to accelerate investments in silicon photonics, silicon-germanium, and advanced packaging technologies at its Malta and Burlington, Vermont, facilities, aiming to strengthen domestic semiconductor supply chains.