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Today at a private GlobalFoundies event, CEO Tom Caulfield, accompanied by Senate Majority Leader Chuck Schumer, announced that the company is ready to grow. At the heart of this new initiative is the doubling of Fab 8, GF’s main manufacturing facility, at a cost of around $ 1 billion. Accompanied by this is the disclosure that GF will be building another manufacturing facility near Fab 8 in Malta NY as part of a private-public partnership. Details of the new installation were not given.
CEO Tom Caulfield
GlobalFoundries is a subcontractor of microprocessors, specializing in adjacency technologies from 12 nm and larger geometries. While most column inches are spent discussing advanced manufacturing at GF’s competitors, in a discussion with the CEO, we were told that GF caters to around 70% of the semi market. conductors and, in the current climate, is currently operating all of its facilities at maximum output. .
GF has three main factories in Malta NY, Dresden in Germany and Singapore – all three are operating at maximum power, and GF recently announced a new factory in Singapore capable of producing 450,000 wafers per year. Tom Caulfield told us before this announcement that the Malta factory is two-thirds full with equipment, Dresden about half full, but Singapore is full, hence the new Singapore factory. In March, GF announced a $ 1.4 billion expansion split evenly among the three sites, with production capacity expected to increase 13% this year and 20% next year due to increased funding. Today’s announcement commits to adding additional machines to Malta to expand into the space already there, for an additional 150,000 wafers per year, at a cost of $ 1 billion.
New website with new brand image. They should have put ‘Moore’
The other element of the announcement is the new fab in Malta. Deploying a new facility, especially on a large scale, costs billions. GlobalFoundries now recognizes that it will take billions, citing the U.S. government’s desire to increase domestic manufacturing in light of the global scale and build more on American soil. It was not disclosed exactly how GF will implement a new facility – no timeline, no costs, no information on where funding is coming from or what process nodes will be fabricated on site. It has been announced that it will be a public-private partnership, developing chips for high-growth areas such as automotive, 5G and IoT. The factory is expected to create 1,000 technical jobs and a few thousand auxiliary positions in the region to support it. Discussions were also held in light of the semiconductor supply chain and the need to invest and scale this part of the business alongside improvements in manufacturing. Senator Schumer spoke about the need to pass growth semiconductors, holding a bag of chips next to a wafer.
These announcements are part of a string of recent disclosures and speak of GlobalFoundries. Last week it was rumored that Intel was looking to acquire GF for $ 30 billion, but today GF announced a complete rebranding and rebranding of the company, which doesn’t tend to go downhill. produce if a company is negotiating an acquisition. Along with this, GF is expected to advance its initial public offering (IPO) from 2022 to the end of 2021. The company is currently 100% owned by emeritus state holding company Mubadala, and the IPO is based on some growth of GF in light of the high demand environment for semiconductors. GlobalFoundries forecasts sales of around $ 6.2 billion in 2021, up 9% from 2020.
GlobalFoundries official press release
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