GlobalFoundries will operate up to two new chip fabs at its Malta, New York, site under a U.S.-Japan initiative providing up to $21 billion, with Japan supplying the money. The first fab, about $10 billion, is due online in 2029; a second, about $10 billion more, is still subject to approval.
Correction (Oct 14): An earlier version described a reported $21 billion deal for two New York fabs. GlobalFoundries announced the up-to-$21 billion U.S.-Japan initiative itself; the first fab (about $10 billion, online in 2029) is set, and the second is still subject to approval.
Governments own the fabs while GlobalFoundries runs them.
The deal creates new competition for Taiwan foundries.
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Intel shares fell 14% in after-hours trading on Oct. 29, per Reuters, with later reports putting the drop at about 17% to more than 20%, after the company guided fourth-quarter revenue below estimates. CFO David Zinsner told Reuters an October explosion at its Kiryat Gat, Israel fab will cut about $600 million of revenue over two quarters.
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GlobalFoundries signed a multi-year US$2 billion agreement with TSMC on October 8, 2026 to manufacture silicon interposers at its Malta, New York fab. The deal creates the first US-based source of silicon interposers for TSMC's CoWoS advanced packaging ecosystem.
