# US awards $1.5 billion to GlobalFoundries for semiconductor production

The U.S. government is awarding $1.5 billion to GlobalFoundries to subsidize semiconductor production, the first major award from the CHIPS Act fund. GlobalFoundries will build a new semiconductor plant.

- Type: Investment
- Announced: 2024-02-19
- Where: Malta, New York, United States, United States
- Value: $1.50B
- Status: announced
- Products: semiconductors
- Sectors: [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [GlobalFoundries](https://endata.com/companies/664.md)

## Sources

- [reuters.com](https://www.reuters.com/technology/us-awards-15-bln-globalfoundries-domestic-semiconductor-production-2024-02-19/), 2024-02-19: "The U.S. government is awarding $1.5 billion to GlobalFoundries to subsidize semiconductor production."
- [gf.com](https://gf.com/news-and-events/news/globalfoundries-and-biden-harris-administration-announce-chips-and-science-act-funding-for-essential-chip-manufacturing/), 2024-02-19: "The U.S. Department of Commerce today announced $1.5 billion in planned direct funding for GlobalFoundries as part of the U.S. CHIPS and Science Act."
- [investors.gf.com](https://investors.gf.com/news-releases/news-release-details/globalfoundries-and-biden-harris-administration-announce-chips), 2024-02-19: "The U.S. Department of Commerce today announced $1.5 billion in planned direct funding for GlobalFoundries as part of the U.S. CHIPS and Science Act."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.