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Trump Announces $21 Billion GlobalFoundries Investment for New York Chip Plants
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Moneycontrol•14-10-2026, 23:42
Trump Announces $21 Billion GlobalFoundries Investment for New York Chip Plants
- •US President Donald Trump announced a $21 billion investment by GlobalFoundries to build two new chip manufacturing facilities in Malta, New York, with capital provided by Japan.
- •The project is expected to create 27,000 construction and supply-chain jobs, alongside over 1,000 highly skilled manufacturing jobs.
- •The US government will receive shares in GlobalFoundries as part of an additional federal investment agreement, bringing total administration investment in the company to $1.63 billion.
- •Department of Commerce Secretary Howard Lutnick will invest $955 million in advanced technologies including silicon photonics and silicon germanium.
- •Trump also highlighted major energy and trade developments, including South Korean investments and Taiwanese offtake commitments for the Alaska LNG project.
Key Questions Answered
GlobalFoundries is investing $21 billion to build two new chip manufacturing facilities in Malta, New York, with Japan providing the capital for the project.
The project is expected to create 27,000 construction and supply-chain jobs, along with more than 1,000 additional highly skilled manufacturing jobs.
The Department of Commerce is investing $955 million in silicon photonics, silicon germanium, and advanced packaging technologies, bringing the administration's total investment in the company to $1.63 billion.
