Japan will provide up to $21 billion for two new chip plants in Malta, New York, with GlobalFoundries named technology provider and operator under a U.S.–Japan initiative. The first fab, with about $10 billion tied to it, is expected online in 2029, while a second fab carries about $10 billion more, described as an upper limit; at full operation each could produce about 900,000 wafers a year. In exchange, GlobalFoundries will redirect its existing $955 million CHIPS Act award toward silicon photonics, silicon-germanium and advanced packaging in Malta and Burlington, Vermont, and the Commerce Department will receive an equity stake. The fee structure and the size of the government stake have not been fully disclosed, while Communications Infrastructure and Datacenter revenue grew 62.0% in the second quarter and automotive revenue fell 9.5%. GFS rose 4.80% to $48.94 on a day the Nasdaq fell 1.9%.
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