What Happened: The company announced on Wednesday that it aims to boost domestic chipmaking.
The funding includes $13 billion for facility expansion and $3 billion for R&D. The focus is on silicon photonics, GaN power technologies, and advanced packaging.
The announcement comes after the launch of the New York Advanced Packaging and Photonics Center—the first U.S.-based facility dedicated to silicon photonics packaging.
Also Read: Taiwan Semiconductor’s Japan Chip Factory Faces Delays, While U.S. Expansion Takes Priority
Why It Matters: CEO Tim Breen said the AI boom is fueling demand for GF’s technologies. The company makes a proprietary FDX platform and silicon photonics solutions.
GlobalFoundries aims to support next-gen data centers and edge devices with energy-efficient, high-performance chips built in America.
Commerce Secretary Howard Lutnick said the move exemplifies America’s latest reshoring efforts under the Trump administration.
Related ETFs: iShares Semiconductor ETF (NASDAQ:SOXX) and VanEck Semiconductor ETF (NASDAQ:SMH).
Price Action: GFS shares are trading higher by 1.50% at $37.42 on the last check on Wednesday.
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