Mubadala-Backed GlobalFoundries Selected for $21 Billion US Chip Expansion

Mubadala-backed GlobalFoundries has been selected to provide technology and operate two planned semiconductor factories at its Malta, New York, campus. The company announced the project on 14 October 2026 under a US-Japan initiative offering up to $21 billion in funding.

GlobalFoundries said Japan will provide the investment while the chipmaker contributes its manufacturing technology and operating expertise. The first roughly $10 billion is intended to accelerate a factory targeted to begin production in 2029, while a second facility would be subject to a later investment decision.

The expansion is aimed at increasing US production of foundational semiconductors used in automotive, industrial and connected infrastructure markets. Funding, construction and production milestones remain subject to implementation decisions, and the announcement does not confirm specific vacancies. Source: GlobalFoundries.