The Biden administration is granting $1.5 billion in funding to GlobalFoundries to bolster semiconductor production under the CHIPS Act. The company, which spun out from AMD in 2009 and also has access to $1.6 billion in loans from the CHIPS Program Office, will split the cash between three projects.First, GlobalFoundries will build a new fabrication facility in Malta, New York, where it aims to produce "high value technologies not currently available in the US," the Department of Commerce said in a statement. GlobalFoundries says it will use the facility to build chips for a range of...

https://www.engadget.com/globalfoundries-secures-15-billion-in-chips-act-funding-for-us-expansion-172754429.html?src=rss

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