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4/2, 3:20 PM (Source: TeleTrader)
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GlobalFoundries to invest $1.4B in chip production

Chief executive officer of GlobalFoundries, Tom Caufield, said in an interview with CNBC on Friday that the third-largest foundry is looking to invest $1.4 billion in 2021 to boost semiconductor production and double that amount in 2022.

According to Caufield, GlobalFoundries is operating at full capacity and is expanding accordingly, amid severe international semiconductor shortages, that have been causing vehicle production delays and disrupting electronics manufacturing around the world.

The company is planning to go public in the first half of 2022 or sooner. A global leader in specialty chip manufacturing, GlobalFoundries produces semiconductors designed by Qualcomm, Broadcom and others.

Breaking the News / LH