GlobalFoundries awarded $1.5bn subsidy [Yahoo! Finance]
GlobalFoundries Inc. (GFS)
Company Research
Source: Yahoo! Finance
This direct funding is part of the CHIPS Incentives Programme's Funding Opportunity for Commercial Fabrication Facilities. The award follows a preliminary memorandum of terms announced in February 2024, and the completion of the Department's due diligence. This investment will support GlobalFoundries' planned $13bn investment in its US manufacturing sites over the next decade. The investment includes a new facility in New York, the expansion and modernisation of an existing New York facility, and the modernisation of operations in Vermont. This initiative is expected to create approximately 9,000 construction jobs and 1,000 manufacturing jobs across all of the sites. US Secretary of Commerce Gina Raimondo said: “By investing in GF's domestic manufacturing capabilities, we are helping to secure a stable domestic supply of chips that are found in everything from home electronics to advanced weapons systems. “Thanks to President Biden's leadership and because of CHIPS for Am
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GFS
News
- GlobalFoundries Inc. (GFS) Secures $1.5 Billion US Grant Amid Nationwide Semiconductor Investment Push [Yahoo! Finance]Yahoo! Finance
- Guggenheim upgrades SolarEdge to "neutral" [Yahoo! Finance]Yahoo! Finance
- US finalizes $1.5 billion chips award for GlobalFoundries to expand production [Yahoo! Finance]Yahoo! Finance
- GlobalFoundries and U.S. Department of Commerce Announce Award Agreement on CHIPS Act Funding for Essential Chip Manufacturing [Yahoo! Finance]Yahoo! Finance
- US Finalizes $1.5 Bn Chips Award To GlobalFoundries [Barron's]Barrons
GFS
Earnings
- 11/5/24 - Beat
GFS
Sec Filings
- 11/20/24 - Form 6-K
- 11/12/24 - Form SC
- 11/6/24 - Form SC
- GFS's page on the SEC website