Biden-Harris Administration Announces CHIPS Incentives Award with GlobalFoundries to Strengthen Essential Chip Supply for Key U.S. Industries Including Auto and Defense
The U.S. Department of Commerce awarded GlobalFoundries (GF) up to $1.5 billion in direct funding under the CHIPS Incentives Program’s Funding Opportunity for Commercial Fabrication Facilities. The award will bolster U.S. competitiveness in current-generation semiconductor production by supporting the company’s investment of approximately $13 billion over the next 10-plus years in its U.S manufacturing sites in New York and Vermont.