JAPAN TO FUND $21 BILLION GLOBALFOUNDRIES EXPANSION

Japan has agreed to back up to $21 billion for two new semiconductor fabs that GlobalFoundries ($GFS) will build and operate in Malta, New York, under a trade pact with the Trump administration. The first plant alone carries a roughly $10 billion price tag and is set to start production in 2029, with a matching $10 billion in reserve for a second line. That dwarfs the $1.5 billion GlobalFoundries received from the CHIPS Act in 2024, with the U.S. Commerce Department now taking a stake of about 4% in the company as part of the deal.