GlobalFoundries gets $1.5 billion subsidy from U.S. gov't after it was fined for violating export laws to China [Yahoo! Finance]
GlobalFoundries Inc. (GFS)
Company Research
Source: Yahoo! Finance
GlobalFoundries (GF) has been awarded up to $1.5 billion under the CHIPS and Science Act to expand its U.S. semiconductor manufacturing operations. The funding will be part of the company's $13 billion investment plan to expand production capacity at its two U.S. sites over a decade. The U.S. government signed a deal with GF after the company was fined $500 million for violating U.S. export rules, as The Register noticed. “GF's essential chips are at the core of U.S. economic, supply chain and national security,” said Dr. Thomas Caulfield, president and CEO of GF. “We greatly appreciate the support and funding from both the U.S. Government and the states of New York and Vermont, which we will use to ensure our customers have the American-made chips they need to succeed and win.” GF will use the funding for three major projects. The first is expanding its Fab 1 facility in Malta, New York, by installing new tools and porting various technologies from its global sites in Singapore
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News
- Congressman Paul Tonko Joins National Institute for Industry and Career Advancement™ and Industry Leaders for National Apprenticeship Week Roundtable to Strengthen New York's Semiconductor Talent Pipeline [Yahoo! Finance]Yahoo! Finance
- GlobalFoundries Inc. (GFS) Secures $1.5 Billion US Grant Amid Nationwide Semiconductor Investment Push [Yahoo! Finance]Yahoo! Finance
- GlobalFoundries awarded $1.5bn subsidy [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
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