US finalizes $1.5-B chips award to GlobalFoundries

By Agence France-Presse

Nov 22, 2024 12:03 am

WASHINGTON, D.C. — The US government said on 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 research and US semiconductor production.

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