GlobalFoundries to Operate Two Japan-Funded Semiconductor Fabs in New York

GlobalFoundries (NASDAQ: GFS) will operate two new 300 mm semiconductor fabs at its Malta, New York campus, financed by a U.S.–Japan agreement that makes up to $21 billion available. Japan provides the capital; GlobalFoundries supplies technology. An initial ? $10 billion will fund the first fab, slated for production in 2029; a second, similarly sized investment would finance a twin facility.

GlobalFoundries to Build Two New Wafer Plants in New York with $955 Million in Funding and a 4% Equity Stake

The deal stems from the trade agreement negotiated by former President Donald J. Trump with Japan, aiming to boost domestic semiconductor capacity. It aligns with the U.S. CHIPS and Science Act, under which GlobalFoundries will reallocate $955 million of its award to silicon-photonics, silicon-germanium and advanced-packaging projects at its Malta and Burlington sites. In return, the U.S. Department of Commerce will receive an ? 4 % equity stake in GlobalFoundries.

GlobalFoundries climbs after landing potential $21B deal in US-Japan initiative

• Capacity: Each fab is expected to add roughly 900,000 300 mm wafers per year.

GlobalFoundries to operate two Japan-funded fabs in New York

• Jobs: The effort is projected to create ? 27,000 construction and ecosystem jobs and more than 1,000 high-skill manufacturing positions in New York’s Capital Region.

GlobalFoundries To Operate Two New York Semiconductor Fabs Under Up To $21 Billion U.S.-Japan Initiative

• Timeline: Groundbreaking for the first fab is scheduled for later in 2026, with the site already permitted and “shovel-ready.” Full operation is targeted for 2029; the second fab would follow thereafter.

GlobalFoundries to operate two Japan-funded fabs in New York

• Equity & Funding Adjustments: The 4 % equity stake and the $955 million reallocation give the public a share in GlobalFoundries’ growth and accelerate critical technology investments.

GlobalFoundries to Build Two New Wafer Plants in New York with $955 Million in Funding and a 4% Equity Stake

GlobalFoundries CEO Tim Breen called the partnership a “first-of-its-kind initiative” that blends U.S. and Japanese strengths. U.S. Secretary of Commerce Howard Lutnick highlighted the deal as a tangible result of the Trump-era trade agreement and its role in creating high-paying jobs. New York Governor Kathy Hochul praised the expansion as a vote of confidence in the state’s workforce and innovation ecosystem. General Motors president Mark Reuss linked the new capacity to the automaker’s need for robust chips for autonomous driving and AI. Apple’s COO Sabih Khan reiterated the company’s commitment to domestic chip production.

GlobalFoundries To Operate Two New York Semiconductor Fabs Under Up To $21 Billion U.S.-Japan Initiative

• “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,” — Tim Breen

GlobalFoundries selected to operate two new semiconductor fabs in New York under landmark U.S.-Japan initiative

• “President Trump’s historic U.S.-Japan Trade Deal is delivering another massive manufacturing investment into America,” — Howard Lutnick

GlobalFoundries selected to operate two new semiconductor fabs in New York under landmark U.S.-Japan initiative

• “We are planning around GF’s new capacity in New York as an extension of Renesas’ own production footprint, trusted U.S.-based manufacturing backed by a strong U.S.-Japan partnership,” — Hidetoshi Shibata, Renesas CEO

GlobalFoundries selected to operate two new semiconductor fabs in New York under landmark U.S.-Japan initiative

• “We’ve partnered with GlobalFoundries to produce essential chips for Apple products right here in the United States, as part of our $600 billion commitment to American investment,” — Sabih Khan

GlobalFoundries selected to operate two new semiconductor fabs in New York under landmark U.S.-Japan initiative

• “GlobalFoundries’ expansion in Malta is a tremendous vote of confidence in New York’s world-class workforce, innovation ecosystem and the Capital Region’s growing role as a global hub for semiconductor manufacturing and innovation,” — Governor Kathy Hochul

GlobalFoundries selected to operate two new semiconductor fabs in New York under landmark U.S.-Japan initiative

• Total Investment Figure: Sources cite a $21 billion ceiling, while a KuCoin report references a $550 billion U.S.–Japan agreement.

GlobalFoundries selected to operate two new semiconductor fabs in New York under landmark U.S.-Japan initiative

• Reallocation Amount: Most releases state $955 million, but a TradingView article mentions $995 million.

GlobalFoundries to Build Two New Wafer Plants in New York with $955 Million in Funding and a 4% Equity Stake

• Equity Stake: Described as “approximately 4 %,” though a KuCoin piece suggests it could rise to “approximately 7 %.”

GlobalFoundries selected to operate two new semiconductor fabs in New York under landmark U.S.-Japan initiative

A groundbreaking ceremony is set for October 14. After construction, the first fab aims to start wafer production in 2029, with the second fab to be announced pending financing and market demand. Stakeholders—including Renesas, Tokyo Electron, Apple, Cirrus Logic and General Motors—have signaled intent to use the new capacity, positioning the project as a cornerstone of the U.S. semiconductor resurgence.

GlobalFoundries to Build Two New Wafer Plants in New York with $955 Million in Funding and a 4% Equity Stake