10:50 - 5.06.2025

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June 5, Fineko/abc.az. GlobalFoundries Inc., the largest custom chip manufacturer in the U.S., announced investments of $16 billion in increasing domestic production.

ABC.AZ reports that the company will allocate $13 billion to expand existing plants in New York and Vermont, as well as spend $3 billion on research of a number of new technologies in the U.S.

"The AI revolution is driving strong, sustained demand for GlobalFoundries technologies," company's CEO Tim Brin said.

He added that GlobalFoundries does not provide detailed breakdown of when the money will be spent, as it wants to maintain flexibility in this matter in order to match supply and demand.

In 2024, the company announced its intention to invest $12 billion in expanding its facilities in New York and Vermont over more than a decade.

The controlling stake in GlobalFoundries belongs to UAE sovereign wealth fund Mubadala Investment Co. The company was spun off from Advanced Micro Devices in 2008 and merged with Singapore-based Chartered Semiconductor.

Since the beginning of 2025, capitalization of GlobalFoundries has declined by 12.5% (to $20.4 billion), while Nasdaq Composite stock index has gained 0.7%.