A major semiconductor manufacturer is making a play to expand its U.S. manufacturing operations. GlobalFoundries Inc. announced July 19 it would be making a $1 billion expansion in order to address the global semiconductor shortage. According to CEO Tom Caulfield, the new expansion, a 'fab' for making semiconductor wafers, will increase production by 150,000 wafers a year.
The investment will expand GF’s Malta campus and add 1,000 new high-tech jobs to the site, which currently employs about 3,000 people. In remarks delivered at the company’s headquarters in Malta, Caulfield said the semiconductor-manufacturing industry is poised to expand dramatically over the next few years.
“Our industry is expected to grow more in the next decade than it did in the past 50 years and GF is stepping up to do its part as we work together to address the growing demand for technology innovation for the betterment of humanity,” Caulfield said, and praised members of the government and automotive partners for helping to secure a U.S.-produced chip supply.
New York Senator Chuck Schumer was present at the event, as was U.S. Secretary of Commerce Gina M. Raimondo. In remarks, Schumer said GF’s announcement was a “win-win-win” for locals, GF, and industries in desperate need of semiconductors and touted his involvement in the U.S. Competition and Innovation Act, which he said provided $52 billion towards expanding domestic semiconductor production.
The announcement comes only a few days after the Wall Street Journal reported that Intel was in talks to purchase the global semiconductor manufacturing company for $30 billion. Intel announced its own plans to ramp up its chip-manufacturing operations earlier this year when it said it would spend $20 billion on two new semiconductor factories in Arizona.
Separately, GF has also recently announced a new chip plant in Singapore. The company manufactures chips in North America, Europe, and Asia.
