GlobalFoundries (Nasdaq: GFS) (GF) today announced it has been selected as the technology provider and operator for two new semiconductor manufacturing facilities (“fabs”) at its Malta, New York, site under a U.S.-Japan initiative providing up to $21 billion in funding. Enabled by President Donald J. Trump’s trade and investment agreement with Japan, the initiative will accelerate trusted semiconductor manufacturing in the United States, strengthen critical supply chains and support growing demand across automotive, industrial and connected infrastructure markets. Japan will provide the investment, while GF will contribute its differentiated technologies, manufacturing expertise and proven operational capabilities as technology provider and operator. An initial investment of approximately $10 billion will accelerate construction of a new 300mm semiconductor fab, which is expected to come online in 2029. An additional investment of approximately $10 billion would fund a second fab. Together, the two fabs will add significant new U.S. manufacturing capacity and reinforce GF’s ability to support customers worldwide. “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,” said Tim Breen, CEO of GlobalFoundries. “GF was selected because fabs of this scale require more than capital. They require differentiated technology, operational excellence and a proven ability to execute. That combination is what positions GF to make this first-of-its-kind initiative a success.” The first fab is expected to add approximately 900,000 300mm wafers of annual U.S. manufacturing capacity when fully operational. A second fab would add approximately the same amount. The project is expected to create about 27,000 construction and ecosystem jobs and more than 1,000 high-skilled manufacturing jobs in New York’s Capital Region. “President Trump’s historic U.S.-Japan Trade Deal is delivering another massive manufacturing investment into America,” said Secretary of Commerce Howard Lutnick. “With Japan’s investment funding and GlobalFoundries’ partnership, two large semiconductor chip manufacturing facilities will be built in the U.S., creating thousands of high-paying jobs for American workers. This is how the President’s trade agreements result in transformational American industrial assets that strengthen our national and economic security.” GF has also agreed with the U.S. Department of Commerce to amend its existing CHIPS and Science Act award to reallocate $955 million and accelerate the company’s investments in silicon photonics, silicon-germanium (SiGe) and advanced packaging at its facilities in Malta, New York, and Burlington, Vermont. These investments will expand domestic manufacturing capacity for technologies increasingly critical to communications infrastructure and data centers. In a separate agreement, the U.S. Department of Commerce will receive equity in GF of approximately four percent, further enabling the American public to share in GF’s growth. Breaking ground in New York GF expects to break ground on the first fab at its Malta site later this year. The site is permitted and shovel-ready, using existing Malta infrastructure to speed construction. Details of a groundbreaking event will be announced separately. Expanding American manufacturing New York State continues to support the Capital Region’s semiconductor ecosystem through its Green CHIPS program. “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,” said New York Governor Kathy Hochul. “We also look forward to working with the Government of Japan and partnering with their world-leading semiconductor supply chain ecosystem in the yea