GlobalFoundries (GFS) has been selected to build and operate two new semiconductor fabs in New York under a U.S.-Japan initiative providing up to $21 billion in funding. The first approximately $10 billion facility is expected to come online in 2029, with a second facility planned to further expand U.S. chip production. Sector: Technology | Current Focus: U.S. Semiconductor Manufacturing & Advanced Packaging 🔹 Key Highlights - 🏭 Two New Fabs: GlobalFoundries will build and operate two semiconductor facilities in New York. - 💰 Funding: The U.S.-Japan initiative provides up to $21B in funding. - 📅 First Fab: The approximately $10B facility is expected to be operational in 2029. - 🏗️ Second Fab: Another approximately $10B facility is planned to expand U.S. semiconductor production. - 🇺🇸 U.S. Government Stake: The U.S. government is expected to receive approximately 4% equity in GlobalFoundries. - 🔬 CHIPS Act Funding: $955M will support silicon photonics, advanced packaging and SiGe technologies. 💡 Why It Matters The investment strengthens GlobalFoundries' position in U.S. semiconductor manufacturing while expanding domestic capacity for technologies supporting AI and high-performance computing. The combination of new fabs and CHIPS Act funding could also strengthen the U.S. semiconductor supply chain and increase GlobalFoundries' long-term manufacturing capacity. 🚀 Start Your 7-Day FREE ThinkSabio Trial ThinkSabio ThinkSabio — Stocks Simplified