GlobalFoundries Submits Applications for U.S. CHIPS and Science Act Funding
September 25 2023 - 9:00AM
GlobalFoundries (Nasdaq: GFS) (GF) announced today it has applied
for U.S. CHIPS and Science Act Funding, with two full applications
submitted to the CHIPS Program Office of the U.S. Department of
Commerce. The submitted applications are for capacity expansion and
modernization of GF’s U.S. manufacturing facilities.
“As the leading manufacturer of essential semiconductors for the
U.S. government, and a vital supplier to the automotive, aerospace
and defense, IoT and other markets, GF has submitted our
applications to the CHIPS Program Office to participate in the
federal grants and investment tax credits enabled by the U.S. CHIPS
and Science Act,” said Steven Grasso, senior director of global
government affairs at GF. “This federal support is critical for GF
to continue growing its U.S. manufacturing footprint, strengthening
U.S. economic security, supply chain resiliency, and national
defense.”
GF is a longstanding partner to the U.S. government and the
leading supplier of securely manufactured essential chips for the
U.S. aerospace and defense industry. GF-made essential chips are
driving innovation, increasing power efficiency, and minimizing the
total cost of ownership for products in high-growth markets
including automotive, data center, IoT, aerospace and defense, and
smart mobile.
About GF
GlobalFoundries (GF) is one of the world’s leading semiconductor
manufacturers. GF is redefining innovation and semiconductor
manufacturing by developing and delivering feature-rich process
technology solutions that provide leadership performance in
pervasive high growth markets. GF offers a unique mix of design,
development, and fabrication services. With a talented and diverse
workforce and an at-scale manufacturing footprint spanning the
U.S., Europe and Asia, GF is a trusted technology source to its
worldwide customers. For more information, visit www.gf.com.
©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and
other GF marks are trademarks of GlobalFoundries Inc. or its
subsidiaries. All other trademarks are the property of their
respective owners.
Forward-looking Information
This news release may contain forward-looking statements, which
involve risks and uncertainties. Readers are cautioned not to place
undue reliance on any of these forward-looking statements. These
forward-looking statements speak only as of the date hereof. GF
undertakes no obligation to update any of these forward-looking
statements to reflect events or circumstances after the date of
this news release or to reflect actual outcomes, unless required by
law.
Media Contact
Michael Mullaneymichael.mullaney@gf.com
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