Biden Administration Awards $1.5 Billion to GlobalFoundries for Chip Production Expansion

The funding aims to boost U.S. semiconductor manufacturing capacity and secure supply chains critical to national security.

The U.S. Department of Commerce finalized a $1.5 billion award to GlobalFoundries under the CHIPS and Science Act.
The investment will support the expansion of semiconductor manufacturing facilities in New York and Vermont.
GlobalFoundries plans to invest $13 billion over the next decade to enhance its U.S. production capabilities.
The initiative is expected to create around 10,000 jobs, including 9,000 construction and 1,000 manufacturing positions.
This funding is part of a broader effort to increase domestic chip production and reduce reliance on East Asian suppliers.