GlobalFoundries has been selected to operate two new semiconductor fabs at its Malta, New York, site under a U.S.-Japan initiative providing up to $21 billion in funding. The first fab will be a 300mm facility expected to come online in 2029.
Japan will provide the investment, while GlobalFoundries will contribute its technologies, manufacturing expertise and operational capabilities as technology provider and operator. An initial investment of approximately $10 billion will accelerate construction of the first fab; an additional investment of approximately $10 billion would fund the second.
The first fab is expected to add approximately 900,000 300mm wafers of annual U.S. manufacturing capacity when fully operational. A second fab would add approximately the same amount. The project is expected to create about 27,000 construction and ecosystem jobs and more than 1,000 high-skilled manufacturing jobs in New York’s Capital Region.
GlobalFoundries CEO Tim Breen said the initiative brings together the United States and Japan with the company’s technology and manufacturing expertise to accelerate trusted capacity in New York. He said the company was selected because fabs of this scale require differentiated technology, operational excellence and a proven ability to execute.
GlobalFoundries has also agreed with the U.S. Department of Commerce to amend its existing CHIPS and Science Act award, reallocating $955 million to accelerate investments in silicon photonics, silicon-germanium (SiGe) and advanced packaging at its facilities in Malta and Burlington, Vermont. The investments will expand domestic manufacturing capacity for technologies the company said are increasingly critical to communications infrastructure and data centers. In a separate agreement, the department will receive approximately four percent equity in GlobalFoundries.
GlobalFoundries expects to break ground on the first fab at its Malta site later this year. The site is permitted and shovel-ready, using existing Malta infrastructure to speed construction; details of a groundbreaking event will be announced separately.
