US backs GlobalFoundries’ semiconductor growth with $1.5 billion
GlobalFoundries plans a new chip facility in Malta, supported by federal and state funding.
The US Commerce Department has awarded GlobalFoundries a $1.5 billion subsidy to expand semiconductor production in Malta, New York, and Vermont. This follows the company’s $13 billion commitment to bolstering United States manufacturing over the next decade, with a focus on automotive, AI, and aerospace sectors.
The funding will support enhanced technologies at the Malta facility and plans for a new plant aligned with market demand. New York state has pledged an additional $550 million to support the expansion. Commerce Secretary Gina Raimondo emphasised the urgency to finalise similar agreements before the administration ends.
GlobalFoundries CEO Thomas Caulfield highlighted the critical role of US-made chips in economic and national security. The subsidy is part of the $52.7 billion Chips and Science programme, which also allocated major awards to TSMC, Samsung, and Intel.
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