GlobalFoundries Breaks Ground on First New Semiconductor Fab Under U.S.-Japan Initiative

GlobalFoundries has commenced construction on a new 300mm semiconductor manufacturing facility in Malta, New York. This groundbreaking marks the first new fab under a landmark U.S.-Japan initiative, which includes up to $21 billion in funding, with an initial $10 billion investment supported by New York State incentives. The facility is expected to come online in 2029 and significantly expand trusted U.S. semiconductor capacity, addressing growing demand in automotive, industrial, and connected infrastructure markets.