GlobalFoundries said on October 14 it has been selected as technology provider and operator for two new semiconductor fabs at its Malta, New York site under a U.S.-Japan investment initiative valued at up to $21 billion. Japan is supplying the capital, while GlobalFoundries provides the technology, manufacturing know-how and operations.
The first fab, a 300mm facility costing about $10 billion, is expected to begin operations in 2029, with groundbreaking planned for later this year on a permitted, shovel-ready site. The second fab is budgeted at roughly another $10 billion. The project is projected to create about 27,000 construction and ecosystem jobs and more than 1,000 manufacturing jobs.
As part of the arrangement, GlobalFoundries agreed with the U.S. Commerce Department to redirect $955 million of its existing CHIPS Act award toward silicon photonics, silicon-germanium and advanced packaging at Malta and Burlington, Vermont. Reuters reports the two facilities will be jointly owned by the U.S. government and Japanese interests.