Latest news with #TimBreen
Yahoo
16 hours 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
a day 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
Bloomberg
2 days ago
- Business
- Bloomberg
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." (Source: Bloomberg)
Time of India
2 days ago
- Business
- Time of India
GlobalFoundries boosts investment plans to $16 billion, with research focus
Chip manufacturer GlobalFoundries said on Wednesday it planned to increase its investment plans to $16 billion, allocating an additional $1 billion to capital spending and $3 billion to research in several emerging chip technologies. The Malta, New York-based company said it is working with the Trump administration to bring chip manufacturing technology and various components of that supply chain onto US soil. The chip manufacturer attributed the expansion to the boom in artificial intelligence hardware , a trend that has also benefited other chipmakers such as Taiwan Semiconductor Manufacturing Co. The $1 billion capital spending boost is expected to support factory expansions in New York and Vermont, and is in addition to the $12 billion the company said in 2024 it planned to invest over the next 10-plus years. GlobalFoundries did not disclose a specific timeframe for the additional funding it announced on Wednesday. Some of the work is already in progress, such as converting the factory in Vermont to produce chips using a technology called gallium nitride, which can be more power efficient than standard silicon in some applications. "The reason we're not sort of being super clear about exactly what's spent by when is because obviously some of this is demand-driven," GlobalFoundries CEO Tim Breen told Reuters. "We see a very strong demand, but it takes time to convert (demand) into specific ramps and project timing. And what you don't want to do is shoot too far ahead or fall too far behind." Live Events The $3 billion in research and development GlobalFoundries said it will spend will be split into three areas: chip packaging technologies, silicon photonics that can be used to make quantum computing processors, and gallium nitride, which is used in electric vehicles and other power-related applications, such as AI servers. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories In April, Intel and TSMC showed off their latest chip manufacturing and packaging capabilities at events, including the capability to stitch together multiple chips into a dinner-plate-sized device.
Bloomberg
2 days ago
- Automotive
- Bloomberg
Bloomberg Tech: Tesla's FSD Factored in Fatal Crash, GlobalFoundries Boosts US Production
Bloomberg's Caroline Hyde and Ed Ludlow discuss footage and details from late 2023 when a Tesla using what the company calls Full Self-Driving (FSD) was in a fatal crash. Plus, GlobalFoundries CEO Tim Breen talks about his company's plans to spend $16 billion to boost chip production in New York and Vermont. And HPE CEO Antonio Neri explains why the company has reduced how much it expects tariffs to impact earnings.
