Biden admin providing $1.5 billion to GlobalFoundries to make computer chips in New York and Vermont
FILE - This photo shows the Globalfoundries campus on Sept. 22, 2014, in Malta, N.Y. The Biden administration said Monday, Feb. 19, 2024, that the government would provide $1.5 billion to the computer chip company GlobalFoundries to expand its domestic production in New York and Vermont. The announcement is the third award of financial support for a semiconductor company under the 2022 CHIPS and Science Act. (John Carl D'Annibale/The Albany Times Union via AP, File)
WASHINGTON (AP) — The Biden administration said Monday that the government intends to provide $1.5 billion to the computer chip company GlobalFoundries to expand its domestic production in New York and Vermont.
The announcement is the third award of direct financial support for a semiconductor company under the 2022 CHIPS and Science Act. The law enables the government to invest more than $52 billion to revitalize the manufacturing of computer chips in the United States as well as advance research and development.
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