11 Hrs
Source:
Sky News
Japan invests $21B in NY chip plants
GlobalFoundries, the electronic chip manufacturing company, announced that Japan will invest approximately $21 billion to build two semiconductor factories in New York State, in collaboration with the U.S. government and Japanese investors. The goal is to enhance the production of semiconductors in the United States. The first factory is expected to start production in 2029, adding an annual manufacturing capacity of up to 900,000 300-millimeter chips and creating over a thousand jobs. This step is part of a Japanese investment plan totaling $550 billion in America, aimed at supporting the chip industry and reducing dependence on external sources. GlobalFoundries will operate the factories, with the U.S. government increasing its stake in the company to 7%.
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