GlobalFoundries Selected to Operate Two New York Fabs Under $21B U.S.-Japan Initiative

Malta, 14 October 2026. GlobalFoundries (Nasdaq: GFS) announced it has been selected as the technology provider and operator for two new semiconductor manufacturing facilities at its Malta, New York, site under a U.S.-Japan initiative providing up to $21 billion in funding.

Japan will provide the investment. An initial investment of approximately $10 billion will accelerate construction of a new 300mm fab, expected to come online in 2029. An additional investment of approximately $10 billion would fund a second fab.

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.

"This is a bold new initiative for semiconductor manufacturing, bringing together the United States and Japan with GF's differentiated technology and decades of manufacturing expertise to accelerate trusted capacity in New York," said Tim Breen, CEO of GlobalFoundries.

GF has also agreed with the U.S. Department of Commerce to amend its existing CHIPS and Science Act award to reallocate $955 million and accelerate investments in silicon photonics, silicon-germanium (SiGe) and advanced packaging at its facilities in Malta, New York, and Burlington, Vermont. GF expects to break ground on the first fab at its Malta site later this year.

Source: GLOBALFOUNDRIES news