$1.5 Billion for Abu Dhabi Owned Chip Plant

On February 19, the Biden-Harris Administration announced that the U.S. Department of Commerce and GlobalFoundries (GF) have signed a non-binding preliminary memorandum of terms (PMT) to provide approximately $1.5 billion in direct funding under the CHIPS and Science Act to strengthen U.S. domestic supply chain resilience, bolster U.S. competitiveness in current-generation and mature-node (C&M) semiconductor production, and support economic and national security capabilities.

The proposed funding would support a new state-of-the-art facility, significant capacity expansion, and the modernization of GF’s U.S. manufacturing sites in New York and Vermont, which produce essential automotive, communications, and defense semiconductor technologies.  

Global Foundaries is an Accredited Supplier of the Trusted Foundry Program in the U.S., and our manufacturing facilities in Europe and Asia regions hold Common Criteria accreditation. The firm is 85% owned by Mubadala Investment Company, a sovereign investment fund of the Government of Abu Dhabi.