Local Business · Saratoga County
GlobalFoundries Plans Two Chip Plants in Malta, NY With $21B Japan Investment
GlobalFoundries announced plans to open two semiconductor factories in Malta, New York, funded by an investment of up to $21 billion from Japan made possible through the Trump administration's trade agreement with the Japanese government. Roughly $10 billion will accelerate construction of a chip factory expected to open in 2029, while another $10 billion funds a second plant. The company previously received federal funding under a Biden-era semiconductor program; that money will now be redirected to other chip-manufacturing investments. President Trump said on social media the U.S. government will receive shares in GlobalFoundries, similar to its stake in Intel Corp.