GlobalFoundries has begun construction on a new $10 billion semiconductor manufacturing facility in Malta, New York, as part of a landmark US-Japan initiative. This first fab, supported by $570 million in New York state incentives, is expected to be operational by 2029 and will add significant chip production capacity to meet growing demand in automotive, industrial, and connected infrastructure markets. The project includes a second fab planned with an additional $10 billion investment, together expected to create over 27,000 construction and ecosystem jobs and more than 1,000 high-skilled manufacturing jobs. This initiative strengthens US semiconductor supply chains and supports economic growth in New York's Capital Region.
GlobalFoundries shares trade at USD 40.71 as of Nov 13, 2026 23:41 WIB on Pluang, down 4.48% for the day and closer to their 52-week low of USD 32.24 than the high of USD 89.96. Despite the recent sell pressure with 95% of Pluang orders selling, the company’s market cap remains substantial at $23.76 billion. This price context highlights the gap between current investor sentiment and the ambitious expansion plans announced in the US-Japan semiconductor initiative.
