GlobalFoundries (GFS) announced plans to create a new center for advanced packaging and testing of U.S.-made essential chips within its New York manufacturing facility. Supported by investments from the State of New York and the U.S. Department of Commerce, the first-of-its-kind center aims to enable semiconductors to be securely manufactured, processed, packaged and tested entirely onshore in the United States to meet the growing demand for GF’s silicon photonics and other essential chips needed for critical end markets including AI, automotive, aerospace and defense, and communications. GF’s overall investment in the New York Advanced Packaging and Photonics Center is expected to be $575M, with an additional $186M investment in research and development over the next 10-plus years. These efforts are expected to create approximately 100 new full-time GF jobs in New York over the next five years.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GFS:
- GlobalFoundries Strengthens Financial Position with $664 Million Loan Prepayment
- GlobalFoundries and IBM Resolve Legal Disputes, Eye Future Collaboration
- IBM, GlobalFoundries announce settlement, resolution of all litigation matters
- GlobalFoundries receives additional $9.5M in U.S. federal funding
- Target downgraded, Chewy upgraded: Wall Street’s top analyst calls