GlobalFoundries, one of the top semiconductor manufacturers in the world, is investing $4 billion (S$5.4bn) in a new manufacturing facility in Singapore as it looks to address an ongoing shortage of chips that is affecting global automotive and electronics industries, its chief executive said.
The company, a unit of Abu Dhabi’s sovereign investment fund Mubadala Investment Company, will finance the expansion through its own, the government and long-term customers’ investments, Thomas Caulfield told an online ground breaking ceremony on Tuesday.
“We are expanding our global manufacturing footprint, starting with a new fab [foundry] in Singapore,” Mr Caulfield said. “This is a true symbol of what can be achieved by combining government [and] customers' partnerships and GF investments.”
