Globalfoundries is set to build two new semiconductor factories in Malta, New York, as part of a $21 billion U.S.-Japan initiative. Groundbreaking for the first facility begins in 2024, with operations starting by 2029 to produce 900,000 wafers annually.
Japan provides the primary investment for the expansion, while Globalfoundries supplies the manufacturing expertise and DUV systems for Bulk-FinFET and SOI production. A second $10 billion plant with similar capacity is also planned for the Malta campus.
The project adds over 1,000 jobs and involves a $955 million CHIPS Act reallocation for R&D in silicon photonics and advanced packaging. In exchange for $1.5 billion in subsidies, the U.S. Department of Commerce will receive a 4 percent stake in the firm.