GlobalFoundries applies for funding under the "Chip Act" to expand production capacity
GlobalFoundries announced on Monday that they have submitted funding applications under the Chip and Science Act to expand production capacity and modernize local manufacturing facilities.
Steven Grasso, a senior manager at GlobalFoundries, stated in a statement that government support is crucial for it to continue expanding its manufacturing presence in the United States.
The Chip and Science Act provides approximately $52.7 billion in government subsidies for semiconductor research and production in the United States, as well as a 25% investment tax credit for the construction of chip factories. The US Department of Commerce stated in August that over 460 companies have expressed interest in obtaining government semiconductor subsidy funds.
On September 12th, GlobalFoundries announced the opening of its $4 billion expansion manufacturing plant in Singapore. The expanded wafer factory will produce an additional 450000 300mm wafers per year, increasing the total production capacity of GlobalFoundries Singapore to approximately 1.5 million 300mm wafers per year.
The Chip and Science Act provides approximately $52.7 billion in government subsidies for semiconductor research and production in the United States, as well as a 25% investment tax credit for the construction of chip factories. The US Department of Commerce stated in August that over 460 companies have expressed interest in obtaining government semiconductor subsidy funds.
On September 12th, GlobalFoundries announced the opening of its $4 billion expansion manufacturing plant in Singapore. The expanded wafer factory will produce an additional 450000 300mm wafers per year, increasing the total production capacity of GlobalFoundries Singapore to approximately 1.5 million 300mm wafers per year.