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Strong in revenues of $ 11 billion and a record third quarter, Qualcomm has announced the strengthening of its partnership with semiconductor manufacturer GlobalFoundries “more than doubling their existing long-term global strategic agreement for semiconductor manufacturing“. As the San Diego company explains,
today’s announcement ensures wafer supply and commitment to support US-based manufacturing through capacity expansion at GlobalFoundries’ most advanced semiconductor manufacturing facility in Malta, New York.
The agreement intends promote American manufacturing to guarantee the “national and economic security“- as required by the CHIPS & Science Act recently approved by Congress – and was stipulated in Washington in the presence of the main representatives of the supply chain, from upstream (wafer producers) to downstream (end users). The reinforced collaboration will lead to increasingly massive use of the New York State plant, one of the company’s most advanced:
This long-term deal extension provides Qualcomm Technologies with additional U.S.-based manufacturing for a more resilient supply chain,
explained Thomas Caulfield, President and CEO of GlobalFoundries. With the new round of investments, Qualcomm is committed to purchasing chips for a total value of 7.4 billion dollars: in fact, the 4.2 billion of the agreement just entered into is added to the previous 3.2 billion. The partnership with GlobalFoundries will be extended to FinFET for 5G, WiFi, automotive and IoT.
The relationship between Qualcomm and GlobalFoundries has been extended until 2028:
This is terrific news for GlobalFoundries, Qualcomm Technologies and the State of New York – explains Chuck Schumer of the United States Senate. “A few days after I passed my historic bipartisan CHIPS & Science bill, we can already see the semiconductor industry reinvesting in the United States.
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