Latest news with #GlobalFoundries
Yahoo
4 days ago
- Business
- Yahoo
GlobalFoundries to Spend $16 Billion on US Production
Chipmaker GlobalFoundries plans to spend $16 billion to bolster production in New York and Vermont. GlobalFoundries CEO Tim Breen joins Caroline Hyde and Ed Ludlow on "Bloomberg Technology." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
GlobalFoundries commits $16B to expand New York, Vermont facilities
This story was originally published on Manufacturing Dive. To receive daily news and insights, subscribe to our free daily Manufacturing Dive newsletter. GlobalFoundries announced plans Wednesday to invest an additional $3 billion to expand its semiconductor manufacturing and advanced packaging capabilities in Malta, New York, and Essex Junction, Vermont. The funds will go toward research and development initiatives focused on packaging innovation, silicon photonics and new gallium nitride technologies, according to the press release. The money builds upon the company's previously announced $13 billion investment in the two plants, as well as its upcoming advanced packaging and testing center on its Malta campus. GlobalFoundries has been working on diversifying its supply chain over the past few months to get ahead of a 25% semiconductor tariff threatened by Trump earlier this year. As a result, the company has been turning toward its Malta and Essex Junction facilities to supply its customers, especially in the automotive sector. 'Semiconductors are critical to the future of vehicles, and their importance will only grow,' GM President Mark Reuss said in the June 4 press release. 'GlobalFoundries' investment supports our work to secure a reliable, U.S.-based chip supply — essential for delivering the safety, infotainment and features our customers expect.' As customers weigh the impact of the tariffs, diversifying their supply chains is key to limiting risk exposure, then-GlobalFoundries President and CEO Thomas Caulfield said in a February earnings call. Former COO Tim Breen was named as the company's new CEO effective April 28. 'We need to have the ability to source from different regions,' Caulfield said. 'And I think it's just raising the height of importance of diversification and supply chain with customers.' In November, the Department of Commerce finalized GlobalFoundries' $1.5 billion CHIPS and Science Act funding for its New York and Vermont facilities. The company was also awarded $550 million that will go toward ongoing upgrades and expansions. But as the Trump administration reviews the future of the law, it's unclear whether GlobalFoundries and other awardees will still receive their finalized funding. The company did not immediately respond to a request for comment on the status of its funding. GlobalFoundries' new investment addresses the 'explosive growth' in AI, as the technology accelerates demand for new semiconductor capabilities and processes to power data centers, communications infrastructure and AI-enabled devices, according to the press release. AI is especially driving demand for GlobalFoundries' silicon photonics, GaN, and FDX technologies to power data centers, Breen said in a statement. 'The rapid rise of AI in both the cloud and at the edge is driving the adoption of new technology platforms and 3D heterogeneous integration technologies,' GlobalFoundries said in the press release. 'These advanced solutions are essential to meet the exponentially growing requirements for power efficiency, bandwidth density and performance.' The semiconductor supplier is also collaborating with major companies to reshore production to the U.S. and diversify global supply chains, including Apple, SpaceX, General Motors, AMD, Qualcomm Technologies and NXP. 'At GlobalFoundries, we are proud to partner with pioneering technology leaders to manufacture their chips in the United States — advancing innovation while strengthening economic and supply chain resiliency,' Breen said in a statement. GlobalFoundries additional investment comes after the Commerce Department withdrew $210 million in federal grants that were approved for six U.S. technology and manufacturing hubs, including $23 million for the Vermont Gallium Nitride Tech Hub that the company co-founded with the state and the University of Vermont. The hub focuses on developing and commercializing GaN devices and boosting the semiconductor workforce in the state. Recommended Reading GlobalFoundries, Analog Devices push diversification as tariffs loom Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
GlobalFoundries to invest $16bn in semiconductor production
US-based semiconductor manufacturer GlobalFoundries has announced a $16bn investment to enhance domestic semiconductor production. This investment will expand the company's manufacturing and advanced packaging capabilities across its facilities in New York and Vermont. The investment builds upon GlobalFoundries' existing US expansion plans, which include more than $13bn to expand and modernise its New York and Vermont facilities. Additionally, the company has announced funding for its newly launched New York Advanced Packaging and Photonics Centre, the first US-based facility dedicated to silicon photonics packaging. GlobalFoundries is committing an additional $3bn to advanced research and development initiatives. These initiatives focus on packaging innovation, silicon photonics, and next-generation GaN technologies. The company is collaborating with major technology firms such as Apple, SpaceX, AMD, Qualcomm Technologies, NXP, and GM. These companies will aid GlobalFoundries in reshoring semiconductor production to the US and diversifying their global supply chains. GlobalFoundries CEO Tim Breen said: 'At GlobalFoundries, we are proud to partner with pioneering technology leaders to manufacture their chips in the United States—advancing innovation while strengthening economic and supply chain resiliency. 'The AI revolution is driving strong, durable demand for GF's technologies that enable tomorrow's datacentres – including GF's leading silicon photonics, as well as GaN for power applications. 'Meanwhile at the edge, GF's proprietary FDX technology is uniquely positioned to support AI functionality with low power consumption. With all these technologies and more manufactured right here in the US, GF is proud to play its part in accelerating America's semiconductor leadership.' In February 2024, the US awarded $1.5bn to GlobalFoundries to expand its semiconductor production as the country looks to boost its domestic chip manufacturing. "GlobalFoundries to invest $16bn in semiconductor production" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Indian Express
5 days ago
- Business
- Indian Express
US-based firms keen to set shops in state: Govt
US Consul General Katherine Giles-Diaz on Wednesday met West Bengal Chief Minister Mamata Banerjee at Nabanna, the state secretariat. According to officials in the government, the meeting was on a proposed semiconductor manufacturing unit in West Bengal. According to the government officials, Santech Global Inc, with headquarters in New Jersey, USA, has expressed interest in setting up a semiconductor project in Kolkata. 'Santech Global Inc is a global leader in high-tech innovation, specialising in emerging technologies like semiconductor, nanoelectronics, etc. We are in consultation with the company to extend the required support. We hope all these will contribute to a robust semiconductor ecosystem in West Bengal and a shared vision for technological advancement and open up many more economic opportunities for our state, particularly in terms of creating meaningful employment for the youth of West Bengal,' a release issued by the government read. The government also said that the Global Foundries, another US-based company, was going to establish a fab-less centre for design, testing at Kolkata Power Centre. 'They may expand to fabrication later. We have already provided them space. They got possession of a floor of about 13 thousand sq. ft. at Software Technology Park of India (STPI) IT park at Sector V, Salt Lake. Another space of around 19 thousand sqft has been requested by Global Foundries in the same premises of STPI. This is under process,' the government release said. 'We are also interested in setting up a power electronics ecosystem, and for this we are working with Global Foundries, Startup, Academia, and industry,' it added. The government is also working with Global Foundries and universities for a joint internship program for students of West Bengal. 'The Global Capability Centre Policy (GCC policy) for the state of West Bengal is being formulated and the consultation process is going on,' it added. Atri Mitra is a Special Correspondent of The Indian Express with more than 20 years of experience in reporting from West Bengal, Bihar and the North-East. He has been covering administration and political news for more than ten years and has a keen interest in political development in West Bengal. Atri holds a Master degree in Economics from Rabindrabharati University and Bachelor's degree from Calcutta University. He is also an alumnus of St. Xavier's, Kolkata and Ramakrishna Mission Asrama, Narendrapur. He started his career with leading vernacular daily the Anandabazar Patrika, and worked there for more than fifteen years. He worked as Bihar correspondent for more than three years for Anandabazar Patrika. He covered the 2009 Lok Sabha election and 2010 assembly elections. He also worked with News18-Bangla and covered the Bihar Lok Sabha election in 2019. ... Read More
Time of India
5 days ago
- Business
- Time of India
Another US-based semicon co to set up project in Bengal
Kolkata: After GlobalFoundries (GF), another US-based semiconductor company — Santech Global Inc — has expressed its interest in setting up a project in Bengal, the state govt said after US Consul General Kathy Giles-Diaz met Bengal CM Mamata Banerjee at Nabanna on Wednesday. Based in New Jersey, Santech Global specialises in semiconductors and nanoelectronics. "We are in consultation with the company to extend required support," an official said. He added that Santech Global setting up a project in Bengal would contribute in the creation of a robust semiconductor ecosystem in the state and open up more economic opportunities. The state govt further said GF has sought additional space to expand operations. The GF project was announced in Sept last year during a meeting between then-US President Joe Biden and Prime Minister Narendra Modi. The CM had earlier stated that necessary land had already been provided to GF — around 13,000 sq ft in the Software Technology Park of India (STPI) at Sector V. GF has asked for another 19,000 sq ft and the CM has assured to look into the request. On Wednesday, the CM and the US Consul discussed the GF Kolkata Power Center, set to come up in collaboration with the US. The CM said the project would be a significant achievement for the state and expressed hope that once in place, it would generate substantial employment. According to an official, the new semiconductor fabrication unit will focus on advanced sensing, communication and power electronics for national security as well as next-generation telecommunications and green energy applications. The official further said GF is a major semiconductor manufacturing company that produces microchips used in electronic devices such as smartphones, computers and cars. He added that GF would also set up a fabless centre for design and testing. Officials said semiconductor units in Bengal would aid research and development in chip manufacturing, and cause major leaps in the fields of Internet of Things, artificial intelligence and data centres.
