GlobalFoundries (GF) has been awarded up to $1.5 billion under the CHIPS and Science Act to expand its U.S. semiconductor manufacturing operations. The funding will be part of the company’s $13 billion investment plan to expand production capacity at its two U.S. sites over a decade. The U.S. government signed a deal with GF after the company was fined $500 million for violating U.S. export rules, as The Register noticed.
“GF’s essential chips are at the core of U.S. economic, supply chain and national security,” said Dr. Thomas Caulfield, president and CEO of GF. “We greatly appreciate the support and funding from both the U.S. Government and the states of New York and Vermont, which we will use to ensure our customers have the American-made chips they need to succeed and win.”
