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AnandTech
AnandTech
Technology
Anton Shilov

GlobalFoundries Applies for CHIPS Money to Expand U.S. Fabs

GlobalFoundries gf United States Semiconductor Supply chain

Update 9/30: Correcting the number of companies interested in receiving support from the CHIPS fund.

GlobalFoundries has applied for financial support from the U.S. CHIPS and Science Act to expand its American manufacturing sites, the company said this week. The company intends to get federal grants and investment tax credits to upgrade facilities used to build chips for various applications, including automotive, aerospace, defense, and many other industries.

GlobalFoundries's initiative is in line with the provisions of the U.S. CHIPS and Science Act, which aims to strengthen the nation's semiconductor production capabilities. The act has set aside a substantial amount, $52.7 billion, to support semiconductor research, production, and workforce development. Additionally, it offers a 25% investment tax incentive for the construction of chip plants, estimated to be worth around $24 billion, Reuters reminded.

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