GF to Expand Wafer Capacity, Build 2nd NY Fab

GlobalFoundries will invest $1 billion to “immediately” increase capacity by 150,000 wafers a year at its existing fab in Malta, New York, “to help address the global chip shortage,” it said Monday. GF will also build a second fab in Malta to meet “growing demand for secure, feature-rich chips needed by high-growth markets,” including automotive, 5G connectivity and IoT, it said: GF will fund the new facility "through private-public partnerships," it said.