GlobalFoundries seeks U.S. CHIPS and Science Act funding, aiming to advance technology

GlobalFoundries (GF), a important semiconductor manufacturer, has made a significant move by applying for U.S. CHIPS and Science Act Funding. The company has submitted two comprehensive applications to the CHIPS Program Office of the U.S. Department of Commerce, focusing on expanding and modernizing its manufacturing facilities in the United States.

Steven Grasso, senior director of global government affairs at GF, emphasized the company’s pivotal role as a leading supplier of essential semiconductors to the U.S. government and various industries such as automotive, aerospace and defense, and IoT. Grasso stated that GF’s applications were submitted to participate in the federal grants and investment tax credits made available by the U.S. CHIPS and Science Act.

The support from the federal government is crucial for GF’s plans to enhance its U.S. manufacturing footprint, bolstering not only the country’s economic security but also its supply chain resiliency and national defense capabilities. GF has been a trusted partner to the U.S. government for a long time and has been instrumental in providing securely manufactured essential chips to the aerospace and defense industry.

The chips produced by GF play a vital role in driving innovation, improving power efficiency, and reducing the overall cost of ownership for products in various high-growth markets. These markets include automotive, data centers, IoT, aerospace and defense, and smart mobile devices.

GF’s pursuit of U.S. CHIPS and Science Act Funding demonstrates its commitment to strengthening its position as a key player in the semiconductor industry. By investing in capacity expansion and modernization, GF aims to meet the growing demand for semiconductors while contributing to the advancement of critical sectors that rely on these essential chips.

This move by GF aligns with the broader efforts being made to bolster domestic semiconductor manufacturing capabilities in the United States. As the world becomes increasingly reliant on semiconductors for various applications, securing a robust and resilient supply chain is of utmost importance. With GF’s expertise and dedication, the company is poised to play a pivotal role in shaping the future of the semiconductor industry in the United States and beyond.