GlobalFoundries has announced new plans to dedicate $16 billion to expanding its U.S. chip production. The largest contract chipmaker in the U.S., GlobalFoundries announced the decision in response to "unmet demand" in the U.S. for local clients such as Apple and Qualcomm.
GlobalFoundries specified that $13 billion of the funds will go towards expanding the company's existing New York and Vermont fabs, with the remaining $3 billion dedicated to researching advanced packaging and other new technologies. The company claims it is carving out "lucrative niches" in the chipmaking world, such as the research of photonic chips or the use of gallium nitride (GaN) in chips.
