{"id":62388,"date":"2024-02-20T14:46:59","date_gmt":"2024-02-20T14:46:59","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/us-awards-1-5b-to-globalfoundries-for-semiconductor-production-the-express-tribune\/"},"modified":"2024-02-20T14:46:59","modified_gmt":"2024-02-20T14:46:59","slug":"us-awards-1-5b-to-globalfoundries-for-semiconductor-production-the-express-tribune","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/us-awards-1-5b-to-globalfoundries-for-semiconductor-production-the-express-tribune\/","title":{"rendered":"US awards $1.5b to GlobalFoundries for semiconductor production | The Express Tribune"},"content":{"rendered":"
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\nWASHINGTON:
\n<\/strong><\/p>\n

The US\u00a0government is awarding $1.5 billion to GlobalFoundries\u00a0to subsidize semiconductor production, the first major award from a $39 billion fund approved by Congress in 2022 to bolster domestic chip production.<\/p>\n

GlobalFoundries, the world’s third-largest contract chipmaker, will build a new semiconductor production facility in Malta, New York, and expand existing operations there and in Burlington, Vermont, according to a preliminary agreement with the Commerce Department.<\/p>\n

The department in January announced\u00a0a $162 million planned award to Microchip Technology<\/a>\u00a0and $35 million to\u00a0a BAE Systems facility<\/a>\u00a0in New Hampshire in December.<\/p>\n

The $1.5 billion GlobalFoundries grant will be accompanied by $1.6 billion in available loans, with the funding expected to generate $12.5 billion in overall potential investment across the two states, the department said.<\/p>\n

“The chips that GlobalFoundries will make in these new facilities are essential chips to our national security,” Commerce Secretary Gina Raimondo told reporters Sunday.<\/p>\n

Raimondo told Reuters this month the agency is in active talks with numerous applicants and expects to make\u00a0several announcements by the end of March<\/a>.<\/p>\n

“We’re in the process of really complicated, challenging negotiations with these companies,” Raimondo told Reuters. “These are highly complex, first-of-their-kind facilities. The kind of facilities that TSMC, Samsung, Intel, are proposing to do in the United States — these are new-generation investments — size, scale complexity that’s never been done before in this country.”<\/p>\n

<\/p>\n

A signage at US\u00a0chipmaker GlobalFoundries’ new fabrication plant in Singapore, September 12, 2023. REUTERS\/Edgar Su\/File Photo\u00a0Purchase Licensing Rights, opens new tab<\/a><\/p>\n

The GlobalFoundries chips are used in satellite and space communications and the defense industry along with blind spot detection and collision warnings in vehicles, along with Wi-Fi and cellular connections.<\/p>\n

“As an industry, we now need to turn our attention to increasing the demand for US-made chips, and to growing our talented US\u00a0semiconductor workforce,” GlobalFoundries CEO Thomas Caulfield said in a statement.<\/p>\n

GlobalFoundries opened a\u00a0$4 billion semiconductor fabrication plant<\/a>\u00a0in Singapore in September, as part of a major global manufacturing expansion.<\/p>\n

The Malta facility expansion will secure a stable supply of chips for auto suppliers and manufacturers, including General Motors, Raimondo added.<\/p>\n

GlobalFoundries and GM on Feb. 9\u00a0announced a long-term deal<\/a>\u00a0for the automaker to secure US-made processors that will help it avoid factory-halting chip shortages like ones during the Covid19 pandemic.<\/p>\n

“GlobalFoundries\u2019 investment in New York both ensures a robust supply of semiconductors in the US\u00a0to help GM meet demand and supports US\u00a0leadership in automotive innovation,” said General Motors President Mark Reuss.<\/p>\n

The new facility in Malta will produce high-value chips that are not currently made anywhere in the United States, Raimondo added.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

WASHINGTON: The US\u00a0government is awarding $1.5 billion to GlobalFoundries\u00a0to subsidize semiconductor production, the first major award from a $39 billion fund approved by Congress in 2022 to bolster domestic chip production. GlobalFoundries, the world’s third-largest contract chipmaker, will build a new semiconductor production facility in Malta, New York, and expand existing operations there and in […]<\/p>\n","protected":false},"author":2,"featured_media":62389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.tribune.com.pk\/media\/images\/GlobalFoundries1708416694-0\/GlobalFoundries1708416694-0.jpg","fifu_image_alt":"","footnotes":""},"categories":[8],"tags":[],"class_list":["post-62388","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t