The United States plans to award chipmaker GlobalFoundries $1.5 billion in direct funding to boost domestic chip production. The funding aims to strengthen US domestic supply chain resilience and bolster US competitiveness in current-generation and mature-node semiconductor production. The proposed funding will go towards constructing a new facility and upgrading the firm’s production sites in New York and Vermont. The deal will also support economic and national security capabilities. The global chip industry is currently dominated by a few firms, including Taiwan Semiconductor Manufacturing Company (TSMC) and US-based NVIDIA1.
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