GlobalFoundries is the latest company to publicly commit billions to increasing US production of electronics — announcements that President Donald Trump has touted as evidence that his policies are succeeding. The chipmaker said it’s making the investments with the endorsement of customers such as Apple Inc, Qualcomm Inc and General Motors Co.
GlobalFoundries Inc, the biggest US-based provider of made-to-order chips, announced a plan to spend US$16 billion to bolster domestic production.
The company is budgeting US$13 billion to expand existing plants in New York and Vermont and making a further US$3 billion commitment to research into advanced packaging and other technologies in the US, it said in a statement Wednesday.
