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The
company said the deal was made possible by the Trump
administration's trade and investment agreement with the
Japanese government. It said the initiative will accelerate
semiconductor manufacturing in the U.S. and strengthen critical
supply chains.
The company previously received some federal funding to expand
as part of a Biden administration program to expand chip
production. As a result of the investment from Japan, that
federal funding will now go to investments in other areas to
advance semiconductor manufacturing, GlobalFoundries
spokesperson Kenneth Craig said in an email.
President Donald Trump posted on social media that the U.S.
government will receive shares in GlobalFoundries, just as it
did for Intel Corp., in an expansion of the administration’s
policy of taking ownership stakes in private companies.
GlobalFoundries said in a statement that roughly $10 billion
would accelerate construction of a chip factory to open in 2029
and the other $10 billion would fund a second plant.
Demand for semiconductors has surged in recent years thanks to
artificial intelligence and the need for computing power at data
centers. In July, Taiwan computer chipmaker TSMC said it plans
to spend another $100 billion on expanding its manufacturing
capacity in the U.S. TSMC has been expanding chip fabrication
plants in the U.S., Japan and Taiwan.
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