tiprankstipranks
GlobalFoundries to create center for advanced packaging, testing of chips in NY
The Fly

GlobalFoundries to create center for advanced packaging, testing of chips in NY

GlobalFoundries (GFS) announced plans to create a new center for advanced packaging and testing of U.S.-made essential chips within its New York manufacturing facility. Supported by investments from the State of New York and the U.S. Department of Commerce, the first-of-its-kind center aims to enable semiconductors to be securely manufactured, processed, packaged and tested entirely onshore in the United States to meet the growing demand for GF’s silicon photonics and other essential chips needed for critical end markets including AI, automotive, aerospace and defense, and communications. GF’s overall investment in the New York Advanced Packaging and Photonics Center is expected to be $575M, with an additional $186M investment in research and development over the next 10-plus years. These efforts are expected to create approximately 100 new full-time GF jobs in New York over the next five years.

Maximize Your Portfolio with Data Driven Insights:

  • Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
  • Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App