Capital Region (WRGB) — A major U.S.-Japan investment push is poised to reshape semiconductor manufacturing in New York’s Capital Region, with GlobalFoundries selected to build and operate two new chip plants at its Malta site under an initiative providing up to $21 billion in funding.

GlobalFoundries (Nasdaq: GFS) announced Oct. 14, 2026, that it will serve as the technology provider and operator for the two new semiconductor manufacturing facilities, or fabs, in Malta, New York. The initiative is enabled by President Donald J. Trump’s trade and investment agreement with Japan and is aimed at accelerating trusted semiconductor manufacturing in the United States, strengthening critical supply chains and supporting demand across automotive, industrial and connected infrastructure markets.

Japan will provide the investment, while GlobalFoundries will contribute its technologies, manufacturing expertise and operational capabilities.

The plan includes an initial investment of about $10 billion to accelerate construction of a new 300mm semiconductor fab expected to come online in 2029. An additional investment of about $10 billion would fund a second fab. When fully operational, the first fab is expected to add about 900,000 300mm wafers of annual U.S. manufacturing capacity, with the second fab projected to add about the same amount.

Tim Breen, CEO of GlobalFoundries said,

This is a bold new initiative for semiconductor manufacturing, bringing together the United States and Japan with GF’s differentiated technology and decades of manufacturing expertise to accelerate trusted capacity in New York. GF was selected because fabs of this scale require more than capital. They require differentiated technology, operational excellence and a proven ability to execute. That combination is what positions GF to make this first-of-its-kind initiative a success.

The project is expected to create about 27,000 construction and ecosystem jobs and more than 1,000 high-skilled manufacturing jobs in New York’s Capital Region.

Secretary of Commerce Howard Lutnick said,

President Trump’s historic U.S.-Japan Trade Deal is delivering another massive manufacturing investment into America. With Japan’s investment funding and GlobalFoundries’ partnership, two large semiconductor chip manufacturing facilities will be built in the U.S., creating thousands of high-paying jobs for American workers. This is how the President’s trade agreements result in transformational American industrial assets that strengthen our national and economic security.

GlobalFoundries also agreed with the U.S. Department of Commerce to amend its existing CHIPS and Science Act award to reallocate $955 million and accelerate investments in silicon photonics, silicon-germanium (SiGe) and advanced packaging at its facilities in Malta and Burlington, Vermont. The company said those investments will expand domestic manufacturing capacity for technologies increasingly critical to communications infrastructure and data centers.

In a separate agreement, the U.S. Department of Commerce will receive equity in GlobalFoundries of approximately 4%.

GlobalFoundries expects to break ground on the first fab at its Malta site later this year. The company said the site is permitted and shovel-ready, using existing Malta infrastructure to speed construction, and that details of a groundbreaking event will be announced separately.

New York state support is expected to continue through its Green CHIPS program.

New York Gov. Kathy Hochul said,

GlobalFoundries’ expansion in Malta is a tremendous vote of confidence in New York’s world-class workforce, innovation ecosystem and the Capital Region’s growing role as a global hub for semiconductor manufacturing and innovation. We also look forward to working with the Government of Japan and partnering with their world-leading semiconductor supply chain ecosystem in the years to come. This investment will create thousands of construction jobs, support more than 1,000 highly skilled manufacturing jobs and reinforce New York’s position as a global hub for the semiconductor industry.

Grant McEwan, general manager of Fab 8 at GlobalFoundries said,

Since 2009, the people o f this site have built one of the nation’s most advanced semiconductor manufacturing operations. These two great countries entrusting GF to operate two new fabs is a powerful vote of confidence in our workforce, our technology and New York’s Capital Region. With the potential to create thousands of new jobs, we are working with education and workforce partners to build the next generation of semiconductor talent. This is a milestone for our employees, our region and the future of advanced manufacturing in New York.

The expansion is also drawing support from major customers and partners across the United States and Japan.

Hidetoshi Shibata, CEO of Renesas said,

We are planning around GF’s new capacity in New York as an extension of Renesas’ own production footprint, trusted U.S.-based manufacturing backed by a strong U.S.-Japan partnership. This expanded collaboration further strengthens the stable, long-term supply of semiconductors with the differentiated technologies, quality and reliability our products require. These capabilities are essential as we deliver advanced solutions, with demand for electrification, connectivity, AI and data center applications accelerating worldwide.

Tony Kawai, president and CEO of Tokyo Electron said,

Resilient semiconductor manufacturing depends on a trusted ecosystem of equipment and technology partners. Tokyo Electron has supported GlobalFoundries’ manufacturing operations across its global sites for many years, and we are pleased to contribute to expanding advanced semiconductor production capacity in the United States. We also recognize the importance of developing talent and fostering strong local communities to sustain long-term industry growth. This reflects the strong and deeply integrated U.S.-Japan collaboration that underpins the global semiconductor industry.

Sabih Khan, Apple’s COO said,

We’ve partnered with GlobalFoundries to produce essential chips for Apple products right here in the United States, as part of our $600 billion commitment to American investment. As an inaugural member of Apple’s American Manufacturing Program, GlobalFoundries shares our belief in the power of American innovation and ingenuity. This new investment will help accelerate the advanced semiconductor manufacturing ecosystem in the United States.

John Forsyth, Cirrus Logic president and CEO said,

The new fabs in Malta strengthen the U.S. semiconductor ecosystem and give Cirrus Logic access to important domestic manufacturing capability for next-generation mixed-signal products. Building on our long-standing relationship with GF, this new capacity supports the secure, resilient supply chains our customers rely on and broadens the foundation for future innovation.

Mark Reuss, president of GM said,

GM is making strategic investments in autonomy and centralized computing to power the next generation of software-defined vehicles and deliver customer-focused technologies at scale, including widespread deployment of AI across our vehicles and breakthrough capabilities like next-generation Super Cruise. This requires significant processing power and a strong, resilient semiconductor supply chain. GM and GF established the first direct automaker-to-foundry supply agreement, and expanding domestically owned and operated fab capacity in upstate New York marks a decisive step forward for American manufacturing.