US finalizes $1.5 bn chips award to GlobalFoundries

Washington (AFP) Nov 20, 2024

The US government said Wednesday it has finalized a grant with chipmaker GlobalFoundries to support its semiconductor manufacturing investments, as President Joe Biden works to secure parts of his legacy before Donald Trump's White House return. The binding contract provides up to $1.5 billion in direct funding and comes under the CHIPS and Science Act, a suite of incentives to boost researc