Japan to invest up to $21bn in two GlobalFoundries fabs in New York

Japan will put up to $21bn into two new GlobalFoundries chip factories in Malta, New York. About $10bn will speed up a first 300mm fab due online in 2029, with roughly $10bn more for a second. The funds come from Japan's $550bn investment pledge to the US.

• Each fab adds about 900,000 300mm wafers of annual US capacity
• Project expected to create about 27,000 construction and 1,000 manufacturing jobs
• US Commerce Department to receive about 4% of GF equity, stake rising from 3% to 7%
• GF expects about $3bn in adjusted free cash flow from the deal over 10 years